Blossom Company purchased equipment for $420,000 on January 2, 2024, its first day of operations. For book purposes, the equipment will be depreciated using the straight-line method over three years with no salvage value. Pretax financial income and taxable income are as follows: The temporary difference between pretax financial income and taxable income is due to the use of accelerated depreciation for tax purposes. Prepare the journat entries to record income taxes for all three years (expense, deferrals, and liabilities) assuming that the enacted tax rate as of 2024 is 20% but that in the middle of 2025 , Congress raises the income tax rate to 25% retroactive to the beginning of 2025. (Credit account titles are automatically indented when 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. Record journal entries in the order presented in the problem.)