Metlock Corporation began 2020 with a $45,080 balance in the Deferred Tax Liability account. At the end of 2020 , the related cumulative temporary difference amounts to $343,000, and it will reverse evenly over the next 2 years, Pretax accounting income for 2020 is $514,500, the tax rate for all years is 20%, and taxable income for 2020 is $396,900. Compute income taxes payable for 2020 Income taxes payable Prepare the journal entry to record income tax expense, deferred incorne taxes, and income taxes payable for 2020. (Credlt account titles are automatically indented when amount is entered. Do not indent manually. If no entry is repuired, select "No Entry" for the account titles and enter 0 for the amounts.) Metlock Corporation began 2020 with a $45.080 balance in the Deferred Tax Llability account. At the end of 2020 , the related cumvlative temporary difference amounts to $343,000, and it will reversecvenly over the noxt 2 vears. Pretax accounting income for 2020 is $514.500, the tax rate for all years is 20% and taxable income for 2020 is $396.900. Compute income tawes payable for 2020 Income taxes pyyable eTextbookand Media List of Accounts Prepare the journal entry to record income tax expense, deferred income taxes, and incorme tibes payable foc 2020. (Credit account ditles are cutomaticoliy indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts)