Details of Interest Income: City of Springfield Bonds 5,000 City of Shelbyville Bonds 7,000 Corporate Bonds (from Globex Corp.) 6,000 Money Market Account Interest 1,000 U.S. Treasury Bond Interest 1,000 Total Interest Income 20,000 What is book and tax adjustment? Is the difference permanent or temporary

Answer rating: 100% (QA)

Okay lets break this down Book interest income Total reported on income statement 20000 Tax in... View the full answer