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18 5 points The information that follows pertains to Julia Company: Temporary differences for the year 2021 are summarized below. Expenses deducted in the tax
18 5 points The information that follows pertains to Julia Company: Temporary differences for the year 2021 are summarized below. Expenses deducted in the tax return, but not included in the income statement: Depreciation Prepaid expense $58,000 $7.800 01:12:49 eBook Expenses reported in the income statement, but not deducted in the tax return: Warranty expense $8,800 (b.) No temporary differences existed at the beginning of 2021. (c) Pretax accounting income was $64,800 and taxable income was $7,800 for 2021. (d.) There were no permanent differences. (e) The tax rate is 40%. Required: Prepare the journal entry to record the tax provision for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the income taxes. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry
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