In the Current Year, XYZ Corporation collected rent of $3,600,000. For income tax reporting, the rent is taxed when collected. For financial reporting, the rent is recognized as income in the period earned. At the end of the current year, the unearned portion of the rent collected in the current year amounted to $400,000 and taxable income of $3,200,000. Bruno has no temporary differences at the beginning of the current year. Assume an income tax rate of 25%

From above please prepare a Journal entry to record income taxes for the year. Show CALCULATIONS.