Journalize the following transactions:
Definitions:
Taxes Expense
The total amount of taxes owed by an individual or corporation to the government within a fiscal period.
Adjusted Entry
An accounting record made to amend the effects of previously recorded transactions to accurately reflect financial realities.
Taxes Expense
The total amount of taxes owed by a business to federal, state, and/or local governments as determined by applicable tax rates on business income.
Next Period
Refers to the upcoming or following time frame in financial and operational planning, often contextually determined.
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