Chapter 16 Pre-Built Problems G Search Google or type a URL C Chapter 16 Pre-Built Problems Seved Help Save & Exit Submit Check my work 1 In 2018, Ryan Management collected rent revenue for 2019 tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as Income in the perlod tenants occupy rental property, but for Income tax reporting it Is taxed when exisled al the beu inning of the vear, and the lax rale is 40%. Suppose the deferred porlion of the rent collected was $60 million al the 0 end of 2019. Taxable income is $300 million. paints lect "No journal entry reguired" in the first arcount field Enter yOUr enEwers in millions (ie 10.000 000 should be entered ns 1011 eBook Print Refcreaccs View transaction list Journal entry worksheet Recurd 2019 income tax expense Nate: Fnter dehits hefare credits. Debit Event General Jounal Credit Steam View Friends Games Heo heRealOniChann UDDADV arADD 5:39 PM Type here to search N 7/1/2019