Hughes Campa Apparel Incorporated reported pre-tax book income of $830,000 for the current year. The change in the difference in the basis of plant assets is $195,000, and the book basis is higher than the tax basis. Hughes invested in tax-free bonds and earned $80,000 in nontaxable interest income (included in the $830,000 pre-tax income). Prepare the journal entry required to record the tax expense for the current year assuming a 40% income tax rate. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year