ABC Corporation has Dec 31 year end follows IFRS and reported the following information for year 2019 and 2020. ABC Corp is based in Alberta and pays 54 GST on all purchases. The company estimates Current Income Tax on Dec 31 each year and reports income tax to Canada Revenue Agency (CRA) based on Dec 31 estimate. Ary tax liability recognized at end of the year is paid on jan 31 of the next year. Selected Financial Information for 2020 Revenue 3.500.000 Operating Income 350,000 Tax Rate 23% Income Tax for 2020 paid in installments during the year 45,000/ quarter Selected Financial Information for 2019 Revenue 3.200.000 Operating Income 650,000 Tax Rate 24% Income Tax for 2019 paid in installments during the year 35,000/quarter Based on information above, what is income Tax Payable (Receivable) on Dec 31 of 2019 and 20207 Assume there is no income tax payable or receivable at the beginning of 2019 NB: The input box to provide your answer is small, it only shows four digits, but you can input any number in the inputbox. Please ensure your numbers are correctly entered into the inputbox Income Tax Payable treceivable) on Dec 31 of 2019 - use whole number only without comma or s sign. Use Negative Sign (3 for Receivable Example - 7000 or 5000 Income Tax Payable leceivable on Dec 31 of 2020-use whole number only without comma or 5 sign. Lise Negative Sien 14 for Receivable Example -7000 or 5000 Additional Information about ABC Corporation CRA agreed with the assessment made by ABC Corp The owed taxes were paid on Jan 31 of the following year What accrual Journal Entry will be recorded for Income Tax on Dec 31, 2019? What Journal Entry will be recorded related to 2019 income Tax on Jan 31, 2020