Pronghorn Corp. has a deferred tax asset account with a balance of $$82,320$ at the end of $2024$ due to a single cumulative temporary

difference of $$411,600.$ At the end of $2025,$ this same temporary difference has increased to a cumulative amount of $$416,500.$

Taxable income for $2025$ is $$794,100.$ The tax rate is $20\%$ for all years. At the end of $2024,$ Pronghorn Corp. had a valuation account

related to its deferred tax asset of $$43,300.$

$($a$)$ Record income tax expense, deferred income taxes, and income taxes payable for $2025,$ assuming that it is more likely than not that

the deferred tax asset will be realized in full. $($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 $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

Deferred Tax Asset

Income Tax Payable

$($To record income tax expense$)$

Allowance to Reduce Deferred Tax Asset to Expected Realiz

$($To adjust allowance account$).($b$)$ Record income tax expense, deferred income taxes, and income taxes payable for $2025,$ assuming that it is more likely than not that

none of the deferred tax asset will be realized. $($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 $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

Deferred Tax Asset

Income Tax Expense

$($To record income tax expense$)$

Allowance to Reduce Deferred Tax Asset to Expected Reali

$$

$($To record allowance$)$