Help Save& Check my Exercise 16-5 Temporary difference; future deductible amounts; taxable income given [L016-2] Lance Lawm Services reports warranty expense by estimating the amount that eventually will be paid to satisfy warranties on its product sales For tax purposes, the expense is deducted when the cost is incurred. At December 31, 2018, Lance has a warranty lability of $2 milion and taxable income of $75 milion. At December 31, 2017 Lance reported a deferred tax asset of $848,000 related tots d erence reporting warranties, its only temporary difference. The enacted tax rate is 40% each year Prepare the appropriate journal entry to record Lance's income tax provision for 2018. Qf no entry is required for a select "No journal entry required" in the first account field. Enter your answers in whole dollars) Journal entry worksheet tecord 2018 income MacBook Pro 5