Recording Income Tax Expense Rangee Rover Inc. had taxable income of $114,000 for the year. The GAAP basis of accounts receivable (net) is $7,200 less than the tax basis of accounts receivable. Assuming a tax rate of 25%, record the income tax journal entry on December 31 . Assume zero beginning balances in deferred tax accounts. - Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero)