In 2018, ryan management collected rent revenue for 2019 tenant occupancy. for financial reporting, the rent is recorded as deferred revenue and then recognized as income in the period tenants occupy rental property, but for income tax reporting it is taxed when collected. the deferred portion of the rent collected in 2018 was $60 million. taxable income is $180 million. no temporary differences existed at the beginning of the year, and the tax rate is 40%. suppose the deferred portion of the rent collected was $50 million at the end of 2019. taxable income is $200 million.
prepare the appropriate journal entry to record income taxes.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)