Sheridan Corp. reported the following differences between SFP carrying amounts and tax bases at December $31,2022$:

The differences between the carrying amounts and tax bases were expected to reverse as follows:

Tax rates enacted at December $31,2022$ were $34\%$ for $2022,33\%$ for $2023,32\%$ for $2024,$ and $31\%$ for $2025$ and later years.

During $2023,$ Sheridan made four quarterly tax instalment payments of $$8,000$ each and reported income before income tax on its

income statement of $$113,500.$ Included in this amount were dividends from taxable Canadian corporations of $$4,500($non$-$taxable

income$)$ and $$18,000$ of expenses related to the executive team's golf dues $($non$-$tax$-$deductible expenses$).$ There were no changes to

the enacted tax rates during the year.

As expected, book depreciation in $2023$ exceeded the capital cost allowance claimed for tax purposes by $$17,500,$ and there were no

additions or disposals of property, plant, and equipment during the year. A review of the $2023$ activity in the Warranty Liability

account in the ledger indicated the following:All warranties are valid for one year only. The Pension Liability account reported the following activity:

Pension expenses are deductible for tax purposes, but only as they are paid to the trustee, not as they are accrued for financial

reporting purposes.

Sheridan reports under IFRS.$($c$)$

Prepare all income tax entries for Sheridan for $2023.($List all debit entries before credit entries. Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts.$)$

Date

Account Titles and Explanation

December

$31,2023$

$($To record current tax expense$)$

$($To record current tax expense$)$

December

$31,2023$

Debit

Credit