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Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2024. (List all debit entries before credit entries.

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Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2024. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Current Attempt in Progress Blossom Inc, in its first year of operations, has the following differences between the book basis and tax basis of its assets and liabilities at the end of 2$24. It is estimated that the warranty liability will be settled in 2025. The difference in equipment (net) will result in taxable amounts of $20,300 in 2025,$32,900 in 2026 , and $10,600 in 2027. The company has taxable income of $504,000 in 2024. As of the beginning of 2024. the enacted tax rate is 34% for 2024-2026, and 30\% for 2027. Blossom expects to report taxable income through 2027. Indicate how deferred income taxes will be reported on the balance sheet at the end of 2024

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