Britton, Inc., an accrual basis c corporation, sells widgets on credit. Its pretax book Income in its first year of operations is $50,000, Britton's book allowance for uncollectible accounts at the end of the year is $10,000. The applicable income tax rate (combined Federal, state, and global) for year 1 and thereafter is 30%. Britton has a deferred tax asset for the current year. The journal entry to record the income tax expense is as follows: JOURNAL DATE Description Post. Ref. Debit Credit