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: Future Taxable or Carrying (Deductible) Amount Tax Basis Amount Buildings and $69, 000, 000 $53, 100, 000 $ 15, 900, 000 equipment Prepaid 1, 900, 000 1, 900, 000 insurance Liability-loss (10 , 900, 000) contingency 10 , 900, 000 (b.) No temporary differences existed at the beginning of the year. c.) Pretax accounting income was $390,000,000 and taxable income was $129,000,000 for the year and the tax rate is 40%. 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.) View transaction list Journal entry worksheet Record the income taxes. Note: Enter debits before credits. Transaction General Journal Debit Credit Income tax expense Deferred tax asset Deferred tax liability Income tax payable Record entry View general journal Clear entry