Question: Using the information from BE19-2, assume this is the only difference between Oxfords pretax financial income and taxable income. Prepare the journal entry to record

Using the information from BE19-2, assume this is the only difference between Oxford’s pretax financial income and taxable income. Prepare the journal entry to record the income tax expense, deferred income taxes, and income tax payable, and show how the deferred tax liability will be classified on the December 31, 2010, balance sheet.

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