At December 31, 2019,AyayaiInc. had a deferred tax asset of $41,700. At December 31, 2020, the deferred tax asset is $63,500. The corporation's 2020 current tax expense is $70,200.

What amount shouldAyayaireport as total 2020 income tax expense?

Total income tax expense$

Prepare the journal entries to record income taxes for 2020.

Account Titles and Explanation Debit Credit

record current tax expense

record deferred tax expense