2. During 2019, C Inc. reported $1,000,000 net income. Included in this amount was $80,000 of interest income from investments in municipal bonds and $190,000 of fines paid for violating pollution laws. For book (financial reporting) purposes, C Inc. uses the allowance method to record bad debt expense and, for tax purposes, it uses the specific write-off method to record bad debt expense. During 2019, for book (financial reporting) purposes. C recorded $80,000 more bad debt expense than it deducted for tax purposes. This entire difference is expected to reverse during 2020. During 2019. E paid $150,000 estimated taxes and its tax rate for all years is 25%. INSTRUCTIONS: A. Determine the current income tax expense and the total income tax expense for 2019. B. Determine the deferred tax asset / liability that will report on its 2019 balance sheet. C.Prepare the journal entry to record the 2019 tax expense. D. Assuming that during 2020 C reports book income of $2,000,000 (and there are no further differences). prepare the journal entry to record the 2020 tax expense