Hamlin Metals prepares semi-annual financial statements. On their financial statement dated June 30, 2021, Hamlin reported a deferred tax asset of $341,000 that they expect to recover over the next three years. On August 8, 2021, a tax law was passed decreasing the corporate tax rate from 40% to 35%. The new tax will be enacted on January 1, 2023. When would Hamlin journalize the change in the value of their deferred tax asset

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Hamlin would journalize the change in the value of their deferred tax asset on Jan... View the full answer