E17-11 (similar to) Question Help Tayer Enterprises provided the following information regarding book-tax differences for its first year of operations 333 (Click the icon to view the book-tax differences.) Installment sales are a normal part of Tayer's operations. The depreciation expense is related to a building costing $1.700.000. Income before including any of the book-tax differences above is 5955,000. Deferred tax assets are expected to be fully realized and, as a result, no allowance account is needed. Tayer is subject to a 40% income tax rate Requirement Prepare the journal entrylles) necessary to record the effects of a tax rate reduction from 40% to 34% effective the beginning of Year 2 Record debit then credits. Exclude explanations from any journal entries Account Year 2 Choose from any list of enter any number in the input fields and then click Check Answer All parts showing Drug DIL unt is ne i Data Table X a tax-rat EL 1 Year 2 Tax Source of Book-Tax Difference Installment sales: Income recognized 2-year warranty Costs: Warranty expense Depreciation expense S GAAP 504,000 $ 61,000 92,000 110,000 50,000 138,000 Print Done s and then click Check