ABC Ltd recorded an accounting profit before tax of $100 000 for the year ended 30 June 2020. Included in the accounting profit were the following items of revenue and expense.

Entertainment Expenses (Non deductable)

$4 000

Depreciation Expense - Car (10% per annum, straight line)

$34 000

Interest Income

$5 000

For tax purposes the following applied.

Depreciation Expense - Car (15% per annum, straight line) $51 000

Income tax rate 30%

Interest Income Received $6 000

Required

a. Use a current tax worksheet to calculate the current tax liability for the year ended 30 June 2020.

b. Prepare the journal entry to record current tax on 30 June 2020.