North Dakota Corporation began operations in January 2015 and purchased a machine for $21,000. North Dakota uses straight-line depreciation over a four-year period for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2015, 20% in 2016, and 30% in 2017. Pretax accounting income for 2015 was $151,000, which includes interest revenue of $20,500 from municipal bonds. The enacted tax rate is 30% for all years. There are no other differences between accounting and taxable income.

Required:

Prepare a journal entry to record income taxes for the year 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the income taxes. Note: Enter debits before credits. Transaction General Journal Debit Credit