Elkhorn Corporation has pretax accounting income of $636,000 and taxable income of $748,000. The company's income tax rate is 35%. The entry to record the income tax includes a:

debit to Income Tax Expense for $261,800.

debit to Deferred Tax Asset for $39,200.

credit to Income Tax Payable for $222,600.

credit to Deferred Tax Liability for $39,200.