Larry Corp. releases its financial statements in April each year. Larry Corp had taxable income of $332.5 million. They also had pretax accounting income for the year ended December 31, 2021 of $315 million. The difference was a result of payments of $17.5 million that were received in December of the previous year, however related to the current year (2021), therefore making the revenue not yet "realized". The tax rate for 2021 is 30%.

What are the journal entries to record Larry Corp.'s income taxes for 2021?

Now, suppose sometime in March, before Larry Corp's financial statements have been released in April, a law is signed that will lower the tax rate for Larry Corp to 25%. Please record (if necessary, if not say why), the entry for 2021 with this new tax rate.