At the end of 2023, Payne industries had a deferred tax asset account with a belence of $105 million attributable to a temporary bocktax difference of $420 million in a liability for estimated expenses. At the end of 2024, the temporary difference is $320 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2024 is $756 million and the tax rate is 25%. Required: 1. Prepare the joumal 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. 2. Prepare the joumal 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 ultimately will be realized. Complete this question by entering your answers in the tabs below. Prepare the journal entry(s) to record Payne's income taxes for 2024, assuming it is mere likely than net that the deferred tax asset will be realized in full. Note: If no entry is required for a transactian/event, select "No jeurnal entry required" in the first account field. Enter your answers in millions (i,e., 10f000,000 should be entered as 10), Show lessi Journal entry