The information below pertains to Mondavi Corporation: (a.) For the current year temporary differences existed between the financial statement carrying amounts and the tax basis of the following: Buildings and equipment Prepaid insurance Liability-loss contingency Carrying Amount $56,000,000 $41,400,000 2,400,000 11,400,000 Future Taxable or (Deductible) Amount Tax Basis $ 14,600,000 0 2,400,000 (11,400,000) (b.) No temporary differences existed at the beginning of the year. (c.) Pretax accounting income was $260,000,000 and taxable income was $116,000,000 for the year and the tax rate is 35%. Permanent differences are the cause of any difference between pretax accounting income and taxable income that are not due to temporary differences. Required: Prepare the journal entry to record the tax provision for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 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