At the end of the year, the deferred tax asset account had a balance of $8 million attributable to a temporary difference of $32 million in a llability for estimated expenses. Taxable income is $72 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%. Prepare the Journal entry(s) to record income taxes, assuming it is more likely than not that three-fourths of the deferred tax asset will not ultimately be realized. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the flrst account fleld. Enter your answers In millions (I.e., 10,000,000 should be entered as 10). Journal entry worksheet Note: Enter debits before credits