Gore Company, organized on January 2, 2024, had pretax accounting income of $7,000,000 and taxable income of $10,000,000 for the year ended December 31, 2024. The 2024 tax rate was 25%. The only difference between book and taxable income is estimated warranty costs. Expected payments and scheduled enacted tax rates are as follows: 2025 $ 1,000,000 2026 500,000 30% 30% 2027 2028 500,000 30% 1,000,000 35% Required: Prepare one compound journal entry to record Gore's provision for taxes for the year 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.