The following information relates to Beetcon Limited for the year ended 30 June 2014.

Accounting profit before income tax (after all expenses have been included): $500 000

Fines and penalties (not tax deductible): $20 000

Depreciation of plant (accounting): $40 000

Depreciation of plant (tax): $100 000

Long-service leave expense (not a tax deduction until the leave is paid): $8 000

Income tax rate: 30%

Required:Based on this information calculate the current tax liability. what would be the journal entries?