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Write the answer in 5 to 7 sentences deferred taxes is

Question: Write the answer in 5 to 7 sentences.

Common Stock $720,000

Retained Earnings 313,000

less: Treasury Stock (85,000)

Stockholders' Equity $948,000

Deferred taxes is either a prepaid expense or a liability? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Accounting Basics: Write the answer in 5 to 7 sentences deferred taxes is

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