A company paid $10,000 cash for income taxes. Of this amount, $4,000 was for income taxes for last year and $6,000 was for income taxes for this year. At the end of last year, an appropriate adjusting entry was made to record the $4,000 in income taxes outstanding as of the end of the year. Which ONE of the following would be included in the journal entry necessary to record this cash payment of income taxes this year? DEBIT to Cash for $10,000 CREDIT to Income Tax Expense for $6,000 CREDIT to Income Taxes Payable for $4,000 DEBIT to Income Taxes Payable for $4,000

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The journal entry necessary to record the cash pay... View the full answer