At December 31, 2014, Aminder Corporation has a deferred tax asset of $340,000. After a careful review of all available evidence, it is determined that it is more likely than not that $70,000 of this deferred tax asset will not be realized prepare the necessary journal entry assuming
(a) That Aminder does not use a valuation allowance account, and
(b) That Aminder does use a valuation allowance account.