J-Matt, Incorporated, had pretax accounting income of $321,000 and taxable income of $356,000 in 2024. The only difference between accounting and taxable income is estimated product warranty costs of $35,000 for sales in 2024. Warranty payments are expected to be in equal amounts over the next three years (2025 to 2027) and will be tax deductible at that time. Recent tax legislation will change the tax rate from the current 25% to 20% in 2026. Determine the amounts necessary to record J-Matt's income taxes for 2024 and prepare the appropriate journal entry. Answer is not complete. Complete this question by entering your answers in the tabs below. Income Tax General Journal Prepare the appropriate journal entry. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. No Transaction General Journal 1 1 Income tax expense Deferred tax asset Income tax payable < Income Tax General Journal > Debit Credit 79,250 x 9,750 89,000