22. Prepare the journal entry(s) to record Payne's income taxes for 2021, assuming it is more likely than not that only one-fifth of the deferred tax asset ultimately will be realized. A. Income tax expense (to balance) 40 Deferred tax asset (determined above) Income tax payable (determined above) C. B. Income tax expense (to balance) Valuation allowance Income tax expense (to balance) Deferred tax asset (determined above) Income tax payable (determined above) Valuation allowance Income tax expense (to balance) Income tax expense (to balance) Deferred tax asset (determined above) Income tax payable (determined above) Income tax expense (to balance) 45 45 30 8 40 45 5 40 2 Valuation allowance D. (gogated Income tax expense (to balance) 45 Deferred tax asset (determined above) bonimaisb) sidayoq 5 Income tax payable (determined above) 40 40 Income tax expense (to balance) eriod las allocation. Valuation allowance 8