Jennifer Capriati Corp. has a deferred tax asset account with a balance of $$75,000$ at the end of $2024$ due to a single cumulative temporary difference of $$375,000.$ At the end of $2025,$ this same temporary difference has increased to a cumulative amount of $$450,000.$ Taxable income for $2025$ is $$820,000.$ The tax rate is $20\%$ for all years. At the end of $2024,$ Jennifer Capriati Corp. had a valuation account related to its deferred tax asset of $$22,500.$

$($a$)$ Record income tax expense, deferred income taxes, and income taxes payable for $2025,$ assuming that it is more likely than not that the deferred tax asset will be realized in full. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $O$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$$

$$

Deferred Tax Asset $$

Income Tax Payable

$($To record income tax expense$)$

Allowance to Reduce Deferred Tax Asset to Expected Realiz $$

Income Tax Expense

$($To adjust allowance account$)$

$($b$)$ Record income tax expense, deferred income taxes, and income taxes payable for $2025,$ assuming that it is more likely than not that none of the deferred tax asset will be realized. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

Income Tax Expense $$