please provide correct answer and use the list of accounts given thanks
- 15 Concord Corporation ended its first fiscal year on December 31, 2020, reporting a pretax income for accounting purposes of $2,409,000. All of Concord products were sold with a two-year warranty included. Concord recorded $763,000 of warranty expense for accounting purposes in 2020, including $399,000 of actual warranty costs incurred during the year plus $364,000 in estimated warranty liability for the remainder of the warranty period. Estimated liabilities are not deductible for tax purposes. Concord was subject to a 25% income tax rate and follows IFRS. Calculate Concord Ltd's taxable income and income tax payable for 2020. Taxable income $ Income Taxes Payable $ List of Accounts Prepare the journal entries to record the 2020 current and deferred income taxes. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and entero for the amounts.) Account Titles and Explanation Debit Credit (To record current tax expense.) (To record deferred tax expense.) List of Accounts - Allowance to Reduce Deferred Tax Asset to Expected Realizable Value Current Tax Benefit Current Tax Benefit-Discontinued Operations Current Tax Benefit-Discontinued Operations Current Tax Expense Current Tax Expense-Discontinued Operations Current Tax Expense-Discontinued Operations Current Tax Payable Deferred Tax Asset Deferred Tax Expense Deferred Tax Expense-Discontinued Operations search ORI LP Deferred Tax Expense-Discontinued Operations Deferred Tax Benefit-Discontinued Operations Deferred Tax Benefit-Discontinued Operations Deferred Tax Benefit-OCI Deferred Tax Expense Deferred Tax Expense-Discontinued Operations Deferred Tax Expense-OCI Deferred Tax Liability Future Tax Asset Future Tax Benefit Future Tax Expense Future Tax Liability FV-NI Investments FV-OCI Investments Income Tax Payable Income Tax Receivable Investment Income or Loss Land No Entry Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss-OCI