15. At the end of the preceding year, Mohawk Industries had a deferred tax asset of $12,250,000, attributable to its only temporary difference of $49,000,000 for estimated expenses. At the end of the current year, the temporary difference is $44,000,000. At the beginning of the year there was no valuation account for the deferred tax asset. At year-end, Mohawk Industries now estimates that it is more likely than not that one-third of the deferred tax asset will never be realized. Taxable income is $11,900,000 for the current year and the tax rate is 25% for all years. Required: Prepare journal entries to record Mohawk Industries' income tax expense for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest whole dollar amount.)
15. At the end of the preceding year, Mohawk Industries had a
Required:
Prepare journal entries to record Mohawk Industries' income tax expense for the current year. (If no entry is required for a transaction/event, select "No
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