The following information is available for the first four years of operations for N Company:

Year Taxable Income Enacted Tax Rate

2019 $800,000 25%

2020 450,000 20%

2021 650,000 20%

2022 580,000 20%

1. On January 1, 2019, heavy equipment costing $1,200,000 was purchased. The equipment had a life of 4 years and no salvage value. The straight-line method of depreciation is used for book(financial reporting) purposes and the tax depreciation taken each year is listed below:

Tax Depreciation
2019	2020	2021	2022	Total
$480,000	$360,000	$180,000	$180,000	$1,200,000

2. On January 1, 2019, $600,000 was collected in advance for rental of a building for a three-year period. The entire $600,000 was reported as taxable income in 2019, but $400,000 of the $600,000 was reported as unearned revenue at December 31, 2019 for book purposes.
3. In 2019, the company recognized $50,000 in fine for pollution as an expense on the income statement.

Prepare the journal entry to record income tax expense, deferred income taxes, and income tax payable for 2019.

Prepare the journal entry to record income tax expense, deferred income taxes, and income tax payable for 2020.