19 On 30 June 2018 the trial balance of Renown Ltd revealed the following information: Dr Cr Property, plant and equipment 14000000 $7000000 210000 Prepaid rent Accounts receivable Allowance for doubtful debts Provision for long -service leave Deferred tax asset (17/2017) Deferred tax liability (1n/2017) Accounts payable Investments Inventory Goodwill Revenue received in advance 8250000 600000 2400000 1200000 2500000 6350000 8489000 12642000 1400000 400000 The following additional information was obtained from Renown (a) The property, plant and equipment were purchased on 1 July 2013 and for accounting purposes are being depreciated over 10 years on a straight-line basis. For tax purposes they are being depreciated on a straight-line basis over five years. (b) The prepaid rent has been claimed as a tax deduction. (c) The revenue received in advance has not yet been included in taxable income (d) Taxable income for the year ended 30 June 2018 is $22490000. (e) The company tax rate is 30%. Required Show the general journal entry, required by AASB 112, to record income tax for the year ended 30 June 2018. Show all calculations. (LO6)