Hopkins Corporation began operations on 1/1/20. On 12/31/20, Hopkins has pretax accounting income of $575,000 and taxable income of $555,000. The difference is due to the following: a) Hopkins uses a different method of depreciation for tax purposes than accounting, allowing additional depreciation of $90,000 to be deducted in computing taxable income. b) Estimated warranty costs of $50,000 were deducted in computing accounting income. Actual expenditures for warranties in 2020 were $30,000, and the remainder will be deductible for tax purposes in future years. c) Hopkins received payment of $60,000 from Baxter Company for three years rental of a portion of Hopkins' warehouse. The payment is taxable when received, but will not be recognized as rental revenue in the financial statements until the three years over which it is earned. d) Hopkins earned $10,000 interest on tax-free municipal bonds. Hopkins has enacted tax rates of 20% for 2020 and 22% for future years. Prepare the 2020 tax journal entry needed by Hopkins