The following information is available for Eli Corp. for its year ended December 31, 2019: 

■ Accounting income before taxes was $600,000. 

■The company is a contractor. It uses the percentage of completion method to report revenue on its financial statements and the completed contract method to report revenue on its tax return. In 2019, Eli Corp. reported revenue of $1,200,000 on its financial statements and revenue of $1,050,000 on its tax return. 

■During the year, Eli Corp. paid $3,000 for key person life insurance coverage of its senior executives. 

■The company paid the local health spa $5,000 to enable its executives to use the recreational facilities during the year. 

■Depreciation expense for the company’s property, plant, and equipment for the year was $120,000; Eli Corp. claimed $130,000 CCA on its tax return. 

■ The company reported pension expense of $85,000 on its income statement; during the year, it remitted a total of $65,000 to the pension trust. 

■ Eli Corp. reported meals and entertainment expenses of $18,000 on its income statement. 

■ The enacted tax rate was 20%. 

Required:

Prepare the journal entries to record income taxes for Eli Corp. for 2019.