At the end of $2023,$ Payne Industries had a deferred tax asset account with a balance of $$90$ mifth attributable to a temporary booktax difierence of $$360$ million in a liability for estimated expenses. At the end of $2024,$ the temporary difierence is $$272$ million. Payne has no other temporary difierences and no valuation allowance for the deferred tax asset. Taxable income for $2024$ is $$648$ million and the tax rate is $25\%.$

Required:

Prepare the journal entry$($s$)$ to record Payne's income taxes for $2024,$ 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 $2024,$ assuming it is more likely than not that only one$-$fourth of the deferred tax asset ulfimately will be realized.