The financial statement of Jane's preschool for the year ended 30 June 2020 shows the following balances.

Cash

10 000

Accounts receivable

25 000

Allowance for doubtful debts

(3 000)

Inventories

34 500

Interest receivable

5 500

Prepaid Insurance

4 200

Plant

180 000

Accumulated depreciation Plant

(45 000)

Accounts payable

35 500

Provision for long service leave

44 800

You are also supplied with the following adjustments.

1. The tax rate is 30%.
2. The tax depreciation rate for plant is 15% p.a. using the straight-line method while the accounting tax rate uses 20% p.a. The plant was purchased on 1 April 2019.
3. The company has $16 000 in tax losses carried forward from the previous year. A deferred tax asset was recognised for these losses. Taxation legislation allows such losses to be offset against future taxable profit.
4. The opening balance for deferred tax asset is $11 040, while the opening balance for deferred tax liability is $2 300

Requirements:

a) Complete the deferred tax worksheet given below.

b)The journal entries for relevant current and deferred tax accounts.