recording a Deferred Tax Allowance $12,000$ on January $1.$

equired eferred tax asset ending balance of $$50,000$ will be realized.

Note: If a journal entry isn't required on any of the dates shown, select $"$N$/$A$-$debit" and $"$N$/$A$-$credit" as the account names and leave the Dr$.$ and Cr$.$ answers blank $($zero$)$

$\backslash$table$[[$Date$,$Account Name,,Dr$.,$Cr$.],[$Dec$.31,$Deferred Tax Asset,$vv,10,000,],[,$Income Tax Expense,$v,42,500,],[,$Income Tax Payable,$v,0,52,500],[,$To adjust deferred tax asset balance,,,$]]$

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.,],[$Dec$.31,$Valuation Allowance for Deferred Tax Asset,$,12,000,0],[,$Income Tax Expense,$,0,12,000],[,$To adjust deferred tax valuation allowance.,,,$]]$

the deferred tax asset ending balance of $$50,000$ will be realized.

Note: If a journal entry isn't required on any of the dates shown, select $"$N$/$A$-$debit" and $"$N$/$A$-$credit" as the account names and leave the Dr$,$ and $Cr,$ answers blank $($zero$)$

$\backslash$table$[[$Date$,$Account Name,,Dr$.,$Cr$.],[Dec31,$Deferred Tax Asset,$v,10,000,0],[$Income Tax Expense,$,42,500,0],[$Income Tax Payable,$vv,0,52,500],[$To adjust deferred tax asset balance,,,$],[,,,,],[$Date$,$Account Name,,Dr$.,$Cr$.],[$Dec$.31,$Income Tax Expense,$,20,000,],[,,0,8,000],[$To adjust deferred tax valuation allowance.,,,$]]$