Lance Lawn Services reports warranty expense by estimating the amount that eventually will be paid to satify warranties on its product sales. For tax purposes, the expense is deducted when the warranty work is completed. At December $31,2024,$ Lance has a warranty liability of $$2$ million and taxable income of $$75$ million. At December $31,2023,$ Lance reported a deferred tax asset of $$471,000$ related to this difference in reporting warranties; it's only temporary difference. The enacted tax rate is $25\%$ each year.

Prepare the appropriate journal entry to record Lance's income tax provision for $2024.$