Maui Resort Inc. determined that the balance in its deferred tax asset account on December 31, 2020, was $90,000. Management reviewed all available positive and negative evidence to estimate that 30% of the deferred tax asset was more likely than not to be realized. The valuation allowance for deferred tax assets has a December 31, 2020, unadjusted balance of $7,200 (credit). Record the entry to adjust the allowance on December 31, 2020. Dr. Cr. Date Account Name Dec 31, 2020 Income Tax Expense Valuation Allowance for Deferred Tax Asset 0 x 0 0 x