Calculation of movements in deferred tax accounts

The statement of financial position of Labrador Ltd at 30 June 2024 showed the following assets and liabilities.

		2024									2023
Assets
Cash		$	40000						$	42500
Inventories			85000							77500
Accounts receivable			250000							240000
Allowance for doubtful debts			(27500	)						(20000		)
Plant			250000							250000
Accumulated depreciation plant			(130000	)						(105000		)
Deferred tax asset			?							20250
Liabilities
Accounts payable			145000							130000
Provision for long service leave			30000							22500
Rent received in advance			12500							10000
Deferred tax liability			?							19050

Additional information

• Accumulated depreciation of plant for tax purposes was $157 500 at 30 June 2023, and depreciation for tax purposes for the year ended 30 June 2024 amounted to $37 500.
• The tax rate is 30%.

Required

Prepare a deferred tax worksheet to calculate the end of reporting period adjustment to deferred tax asset and liability accounts as at 30 June 2024, and show the necessary journal entry. (LO5)