Question: Please explain the solution to this general accounting problem with accurate principles. During the current year, Lanford Corp. had a pretax accounting income of $45

Please explain the solution to this general accounting problem with accurate principles.

Please explain the solution to this general
During the current year, Lanford Corp. had a pretax accounting income of $45 million. The company's only temporary difference was interest received in advance for the following year, totaling $12 million. What is Lanford's taxable income for the current year

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