A company commenced business on 1 July 2022. On 30 June 2024, an extract of the statement of financial position prepared for internal purposes, but excluding the effect of income tax, disclosed the following information:
Assets
Accounts Receivable	130,000
Allowance for doubtful debts	(10,000)
Plant	250,000
Accumulated depreciation	(100,000)
Liabilities
Provision for annual leave	30,000
Additional information: The plant was acquired on 1 July 2022. Depreciation for accounting purposes was 20% (straight-line method), while 25% (straight-line) was used for tax purposes. The tax rate is 30%.
Using the following worksheet, determine the deferred tax asset and deferred tax liability. (6.5 marks) What is the journal entry required? (1.5 marks)

Accounts	Carrying amount (FTA)	Tax base (FDA)	Taxable temporary differences(TTD)	Deductible Temporary Differences (DTT)
Total Temporary Difference
Deferred Tax Liability (DTL)
Deferred Tax Asset (DTA)
Beginning Balances
Movement during the year
Adjustment