ABC Company reports $50,000 in pretax accounting income during 2021. ABC Company purchased equipment during 2021 that had a cost of $15,000 that will also be depreciated over the next five years via straight-line deprecation. ABC Company recognized $3,000 of depreciation on their income statement during 2021 for the equipment purchase. Assuming a 25% tax rate what is ABC Company's journal entry for income taxes in 2021? 12,500 A. Income Tax Expense Deferred Tax Asset Income Tax Payable 3,000 9,500 12,500 B. Income Tax Expense Deferred Tax Liability Income Tax Payable 3,000 9,500 11,750 C. Income Tax Expense Deferred Tax Asset Income Tax Payable 3,000 8,750 11,750 D. Income Tax Expense Deferred Tax Liability Income Tax Payable 3,000 8,750 O A. OB OC. OD