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PIEVIOUS en On 1 January 20X3, Highmark Corp. had the following deferred tax balances: Deferred income tax asset related to warranty Deferred income tax liability related to capital assets $ 25,000 $138,000 On this date, the net book value of capital assets was $1,930,000 and UCC was $1,540,000. There was a warranty liability of $58,000. ces In 20X3, accounting income was $350,000. This included non-tax-deductible expenses of $60,000, dividend revenue (non-taxable) of $21,000, depreciation of $93,000, and a warranty expense of $48,000. Warranty claims pald were $69,000 and CCA was $117,000. Required: Provide the journal entry to record tax expense in 20X3. The enacted tax rate was 42% in 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the entry for current and deferred tax expense/benefit