Concord Corp. follows IFRS and began operations in 2020 and reported accounting income of $274,000 for the year. Concord's CCA exceeded its book depreciation by $41,600. Concord's tax rate for 2020 and years thereafter is 30%. Assume that the $41,600 difference is the only difference between Concord's accounting income and taxable income Prepare the journal entries to record the current tax expense, deferred tax expense, income tax payable, and the deferred tax liability. (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 O for the amounts.) Account Titles and Explanation Date December 31, 2020 December 31, 2020 (To record current tax expense) (To record deferred tax expense) Debit Credit