#1) At December 31, 2017, Bridgeport Corporation had a deferred tax liability of $552,000, resulting from future taxable amounts of $1,840,000 and an enacted tax rate of 30%. In May 2018, a new income tax act is signed into law that raises the tax rate to 35% for 2018 and future years. Prepare the journal entry for Bridgeport to adjust the deferred tax liability.