At the end of $2020,$ Payne Industries had a deferred tax asset account with a balance of $$45$ million attributable to a temporary booktax difference of $$180$ million in a liability for estimated expenses. At the end of $2021,$ the temporary difference is $$128$ million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for $2021$ is $$324$ million anc the tax rate is $25\%.$

Required:

Prepare the journal entry$($s$)$ to record Payne's income taxes for $2021,$ assuming it is more likely than not that the deferred tax asset will be realized in full.

Prepare the journal entry$($s$)$ to record Payne's income taxes for $2021,$ assuming it is more likely than not that only one$-$fourth of the deferred tax asset ultimately will be realized.