Solution-What amount would Sabres Corp report as deferred

What amount would Sabres Corp report as deferred income tax

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Question - Buffalo Sabres Corp began operations in 2017. Included in their 2017 financial statements were bad debt expenses of $1,900,000 and profit from an installment note of $2,900,000. For tax purposes, the bad debts will be deducted currently and the profit from the installment sale will be recognized in 2018. The enacted tax rates are 30% for 2017 and 25% for 2018. In its income statement, what amount would Sabres Corp report as deferred income tax expense?

Reference no: EM132440787

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What amount would Sabres Corp report as deferred income tax

Reference no: EM132440787

Reference no: EM132440787

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