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Marin Company has the following two temporary differences between its income tax expense and income taxes payable. 2020 2021 2022 Pretax financial income $835,000 $908,000

Marin Company has the following two temporary differences between its income tax expense and income taxes payable.

2020

2021

2022

Pretax financial income

$835,000

$908,000

$960,000

Excess depreciation expense on tax return

(29,000

)

(41,300

)

(9,600

)

Excess warranty expense in financial income

19,200

10,300

8,400

Taxable income

$825,200

$877,000

$958,800

The income tax rate for all years is 20%.

(a)

Assuming there were no temporary differences prior to 2020, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020, 2021, and 2022. (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

2020

2021

2022

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