On 1 July 20X2, ABC Company bought a Plant asset for $100,000 where the estimated useful life was four years with no residual value and depreciated on a straight-line basis both in accounting records and taxation records. On 1 July 20X3The asset was revalued by $10,000. The income tax rate is 30%. The asset What is the effect of the journal entry on various accounts on 30 June 20x6? None of the journal entries provided are correct Dr Income tax expense $1,500 Cr Deferred tax liability $1,500 Dr Retained earnings $4,500 Cr Revaluation surplus $4,500 Dr Deferred tax liability $1,500