Question 20 5 pts Pacific, Inc., reports warranty expense when related products are sold. For tax purposes, the warranty costs are deductible as incurred. At the end of the current year, Pacific has a warranty liability of $215,000 and taxable income of $23,000,000. At the end of the previous year, Pacific reported a deferred tax asset of $83,000 related to the difference in reporting warranty expense, its only temporary difference. The enacted tax rate is 25% each year. The journal entry for Pacific to record the income tax provision for the current year is: dr. Income Tax Expense $5,667,000; dr. Deferred Tax Liability $83,000; cr. Income Tax Payable $5,750,000. dr. Income Tax Expense $5,667,000; dr. Deferred Tax Asset $83,000; cr. Income Tax Payable $5,750,000. dr. Income Tax Expense $5,779,250; cr. Deferred Tax Liability $29,250; cr. Income Tax Payable $5,750,000. No journal entry required. dr. Income Tax Expense $5,779,250;cr. Deferred Tax Asset $29,250; cr. Income Tax Payable $5,750,000