Reit Lto is reviewing its deferred tax for the year. In each of the following situations prepare the end-ol-period adjustment journal entries to account for income tax on the initial appearance or reversal of any temporary differences. Explain in each case why. particular accounts are affected. 1. The company purchased a depreciable asset at the beginning of the year for $200000. For accounting purposes, an annual depreciation rate of 20% straight-line is used, whereas for taxation the rate is 30% straight-line. 2. The company's provision for long-service leave at the beginning and end of the year are $140000 and $125000 respectively. in the current year, $15000 in long-service leave was paid to a long-standing employee. 3. In calculating taxable income, the company has deducted $40000 of development expenditure incurred at the beginning of the year. For accounting purposes, the $40000 has been capitalised as an asset and is amortised on a straight-line basis over 5 years. The company is not entitled to any additional deduction above the 100% of costs incurred. 4. The company has an allowance for doubtful debts of $4000 at the end of the year. The balance of the allowance account at the beginning of the year was $7000. In the current period, $12000 was written off as being uncollectable. The gross amount of accounts receivable at the beginning and end of the year are $65000 and $60000 respectively. 5. The company has interest receivable of $20000 at the end of the year. No interest was receivable at the beginning of the year. Interest income is included in taxable profit only when received