North Dakota Corporation began operations in January 2020 and purchased a machine for $30,000. North Dakota uses straight-line depreciation over a four-year period for financial reporting purposes. For tax purposes, the deduction is 40% of cost in 2020, 30% in 2021, and 30% in 2022. Pretax accounting income for 2020 was $160,000, which includes interest revenue of $25,000 from municipal bonds. The enacted tax rate is 30% for all years. There are no other differences between accounting and taxable income.

Prepare the appropriate journal entry to record North Dakota's 2020 income taxes