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At the beginning of the year, company Y had an opening credit balance of $5,000 on its current tax account. Payments were made during the year of $7,500 and the tax due at the end of the year amounted to $25,000. What is the charge to tax in the statement of profit or loss for the year? A. $25,000. B. $30,000. C. $32,500. D. $27,500. |