The following differences between financial and taxable income were reported by Dider Corp. for the current year, 2013. Tax depreciation is $120,000 and accounting is $100,000. Life insurance proceeds for deceased CFO, $19,000. Excess of income reported under percentage of completion accounting for financial reporting over completed contract accounting for tax reporting, $48,000. Life insurance premiums of $25,000 paid on officers where the company is the beneficiary. Estimated warranty expense, $74,000; actual expenditures deducted on tax return is $20,000. Unearned rent received (used cash basis for tax; will recognize for accounting when earned), $14,000. Unrealized gains on marketable securities recognized for financial accounting but will be recognized for tax when sold, $15,000. Assume that Dider Corp pre-tax accounting income of $800,000 for the current year. Deferred tax asset and deferred tax liability beginning balances were $0. The tax rate is 40% Required: Prepare the journal entry to record current year's taxes. The following differences between financial and taxable income were reported by Dider Corp. for the current year, 2013. Tax depreciation is $120,000 and accounting is $100,000. Life insurance proceeds for deceased CFO, $19,000. Excess of income reported under percentage of completion accounting for financial reporting over completed contract accounting for tax reporting, $48,000. Life insurance premiums of $25,000 paid on officers where the company is the beneficiary. Estimated warranty expense, $74,000; actual expenditures deducted on tax return is $20,000. Unearned rent received (used cash basis for tax; will recognize for accounting when earned), $14,000. Unrealized gains on marketable securities recognized for financial accounting but will be recognized for tax when sold, $15,000. Assume that Dider Corp pre-tax accounting income of $800,000 for the current year. Deferred tax asset and deferred tax liability beginning balances were $0. The tax rate is 40% Required: Prepare the journal entry to record current year's taxes