The information that follows pertains to James inc. (a) Temporary differences for the year 2018 are summarized below: Expenses deducted in the tax return, but not included in the income statement: Expenses reported in the income statement, but not deducted in the tax return: Warranty expense 8,000 Expenses roported in the income statement, but not deducted in the tax refurne Warranty expense 8,000 (b) No temporary differences existed at the beginning of 2018 (c) Pretax accounting income was $68,000 and taxable income was $8,000 for 2018 . (d) There were no permanent differences. (e) The tax rate is 30% Required: Prepare the journal entry to record the tax provision for 2018. Provide your computations to earn credit. Edit Format Table