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Use the tax brackets and rates in Table 3.3 to compute the federal tax for Jim who is declaring taxable income of $175 000.

Cash Prepaid insurance Supplies Equipment Accounts payable Unearned fees. Owner, Capital Owner, Withdrawals Fees earned. Rent expense Salaries expense Utilities expense Insurance expense Supplies expense. Depreciation expense-equipment Accumulated depreciation-equipment Salaries payable Accounts receivable Totals. Your