The following information is for James Industries' first year of operations. Amounts are in millions of dollars. Future Taxable Amounts 2025 2026 Future 2027 Amounts Total Accounting income Temporary difference: Advance rent payment Taxable income Year 2023 $ 230 2024 (80) $ 150 $ 20.00 $ 20.00 $ 20.00 $ 20.00 $ 80.00 In 2024 the company's pretax accounting income was $118.0. 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. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars and not in millions. View transaction list Journal entry worksheet 1 Record the income taxes. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal