At the end of 2019, Bramble Corporation reported a deferred tax liability of $49,100. At the end of 2020, the company had $247,000 of temporary differences related to property, plant, and equipment. Depreciation expense on this property, plant, and equipment has been lower than the CCA claimed on Brambles income tax returns. The resulting future taxable amounts are as follows:

2021		$79,000
2022		64,000
2023		58,000
2024		46,000
		$247,000

The tax rates enacted as of the beginning of 2019 are as follows: 31% for 2019 and 2020; 30% for 2021 and 2022; and 25% for 2023 and later. Taxable income is expected in all future years.

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Calculate the deferred tax account balance at December 31, 2020.

Deferred tax select asset or liability assetliability

$enter a dollar amount SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT

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Prepare the journal entry for Bramble to record deferred taxes for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2020	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

LINK TO TEXT

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Early in 2021, after the 2020 financial statements were released, new tax rates were enacted as follows: 29% for 2021 and 27% for 2022 and later. Prepare the journal entry for Bramble to recognize the change in tax rates. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
December 31, 2021	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount