Pan Corp., at the end of 2020, its first year of operations, prepared a reconciliation between pre-tax accounting income and taxable income as follows: Pre-tax accounting income $ 300,000 Estimated warranty expenses deductible when paid 800,000 Excess CCA (600.000) Taxable income $ 500.000 Estimated warranty expenses of $ 530,000 will be deductible in 2021, $ 200,000 in 2022, and $ 70,000 in 2023. The use of the depreciable assets will result in taxable amounts of $ 200,000 in each of the next three years. The enacted tax rate is 30% and is not expected to Whange. Instructions a) Prepare a schedule of the future taxable and deductible amounts. b) Prepare the required adjusting journal entries to record income taxes for 2020