Ayayai Ltd$.$ reported income from continuing operations before income taxes of $$722,500$ for the year ended December $31,2023.$ The

company's taxable income for the year was the same as its pre$-$tax accounting income $($i$.$e$.,$ there were no temporary or permanent

differences$).$ In addition, Ayayai had a $$36,000$ taxable gain arising from discontinued operations. The gain is fully taxable at Ayayai's

tax rate of $20\%.$

$($a$)$

Record the journal entry to record income tax expense for Ayayai Ltd$.$ for $2023.$ Assume that Ayayai uses the taxes payable

method under ASPE. $($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. List all debit entries before credit entries.$)$

Account Titles

Debit

CreditAyayai Ltd$.$ reported income from continuing operations before income taxes of $$722,500$ for the year ended December $31,2023.$ The

company's taxable income for the year was the same as its pre$-$tax accounting income $($i$.$e$.,$ there were no temporary or permanent

differences$).$ In addition, Ayayai had a $$36,000$ taxable gain arising from discontinued operations. The gain is fully taxable at Ayayai's

tax rate of $20\%.$

$($a$)$

Record the journal entry to record income tax expense for Ayayai Ltd$.$ for $2023.$ Assume that Ayayai uses the taxes payable

method under ASPE. $($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. List all debit entries before credit entries.$)$

Account Titles Debit Credit