The following information is for James Industries' first year of operations. Amounts are in millions of dollars.

Year $2023$ Future Taxable Amounts Future

Amounts Total

$2024202520262027$

Accounting income $ $80$

Temporary difference:

Advance rent payment $(20)$ $ $5\mathrm{.}00$ $ $5\mathrm{.}00$ $ $5\mathrm{.}00$ $ $5\mathrm{.}00$ $ $20\mathrm{.}00$

Taxable income $ $60$

In $2024$ the company's pretax accounting income was $$73\mathrm{.}0.$ The enacted tax rate for $2023$ and $2024$ is $25\%,$ and it is $30\%$ for years after $2024.$

Required:

Prepare a journal entry to record the income tax expense for the year $2024.$