Chapter 19 17a. On January 1, 2018, JKL Corp purchases a new machine for $200,000. The machine has a 10 year useful life and a $0 salvage value. JKL uses straight line depreciation for financial reporting purposes, and uses double declining balance for tax purposes. JKL's revenues for the year are $500,000. And has no expenses except depreciation expense. Its income tax rate is 30%. Show the journal entry for income taxes made on December 31, 2018. 17b. On January 15 of 2019, JKL pays taxes due from the 2018 year. Show the journal entry.