Required information On January 1, 2021, a company purchased equipment for $150,000. The asset has a 3-year useful life and no residual value. Additional Information: For financial reporting, the asset is depreciated on a straight-line basis. . For tax reporting, depreciation is $67,500 in 2021, $60,000 in 2022, and $22,500 in 2023 (based on MACRS), There are no other differences between accounting Income and taxable income in any year. The tax rate is 30% for all years. Use the information above to answer the questions below, What is the balance of the deferred tax account at the end of 2021? (Click to select) $5,250 $20,250 $50,000 $45,000 $17,500 Required Information On January 1, 2021, a company purchased equipment for $150,000. The asset has a 3-year useful life and no residual value. Additional information: For financial reporting, the asset is depreciated on a straight-line basis. For tax reporting, depreciation is $67,500 in 2021, $60,000 in 2022, and $22,500 in 2023 (based on MACRS). There are no other differences between accounting income and taxable income in any year. The tax rate is 30% for all years. Use the information above to answer the questions below. The Journal entry to record income taxes in 2022 will include a: Click to select) debit to Deferred Tax Liability for $3,000 credit to Deferred Tax Llability for $5,250 debit to Deferred Tax Llability for $5,250 credit to Deferred Tax Liability for $3,000