Question: Blue Water Dredging recorded $10,000 in estimated taxes on the last day of each month and made the payment on the 15th of the following

Blue Water Dredging recorded $10,000 in estimated taxes on the last day of each month and made the payment on the 15th of the following month. On December 31, 2016, Blue Water's year end, it was determined that total income tax expense for the year was $126,000. Record the final installment on December 31 and its payment on January 15, 2017.

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