For the year ended June 30, 2021, Viceron Inc. had service revenue of $800,000 and operating expenses

Question:

For the year ended June 30, 2021, Viceron Inc. had service revenue of $800,000 and operating expenses of $575,000. The company has a 15% income tax rate. No income tax instalments have been paid or recorded. Prepare the journal entry to record income tax.

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