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Recast these journal entries to include the income tax effects of the events being recorded. Assume that Global's tax rate is 25%. (Hint: Costs are incurred and recognized for financial reporting purposes now, but the tax impact comes much later-when these amounts are deducted for tax purposes as actual payments for retiree benefits occur in the future. As a result, the tax effects are deferred, creating the need to record deferred tax assets and deferred tax liabilities.] (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50) Show less View transaction list Journal entry worksheet 5 6 Record retiree benefits. Event General Journal Debit Credit 3 Recast these journal entries to include the income tax effects of the events being recorded. Assume that Global's tax rate is 25%. (Hint: Costs are incurred and recognized for financial reporting purposes now, but the tax impact comes much later-when these amounts are deducted for tax purposes as actual payments for retiree benefits occur in the future. As a result, the tax effects are deferred, creating the need to record deferred tax assets and deferred tax liabilities.] (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50) Show less View transaction list Journal entry worksheet 5 6 Record retiree benefits. Event General Journal Debit Credit 3