Marin Corp. has a deferred tax asset account with a balance of $$80,800$ at the end of $2024$ due to a single cumulative temporary difference of $$404,000.$ At the end of $2025,$ this same temporary difference has increased to a cumulative amount of $$430,000.$ Taxable income for $2025$ is $$801,000.$ The tax rate is $20\%$ for all years. No valuation account related to the deferred tax asset in existence at the end of $2024.$

$($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. $($List all debit entries before credi$$ 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.$\text{'})$

Account Titles and Explanation

Debit

Credit end of $2025$ to record the valuation account. $($List debit entry before credit entry. 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