At Decembes 31, 2019, the Blue Aptive. Comparry hod a current deferred thx asset of $60,000, ariaing from cosh for magazind subseriptions focelived and taxed in 2019 but that will be recogpized as income for accounting purposos in 2020; a noncurrent dolomed tax labily of $160,000 arising trom an oxcoss of MACAS tax depreciation over straight-ine accounting depreoistion of plant aseots; and a tong-serm desecred tax asset of $80,000, arising from contingency expenses for accounting purposes that wil be tax deductible when paid (ostimated to be in 2021). The 2020 pretax thancisl income and taxnble insome for Blue Agave are as follows: Required: Prepare the income tax journal entry for the Blue Agave Company at the end of 2020. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback