The information that follows pertains to Julia Company:

$($a$)$ Temporary differences for the year $2024$ are summarized below.

Expenses deducted in the tax return, but not included in the income statement:

Depreciation

$ $67,000$

Prepaid expense

$8,700$

Expenses reported in the income statement, but not deducted in the tax return:

Warranty expense

$ $9,700$

$($b$)$ No temporary differences existed at the beginning of $2024.$

$($c$)$ Pretax accounting income was $$74,700$ and taxable income was $$8,700$ for $2024.$

$($d$)$ There were no permanent differences.

$($e$)$ The tax rate is $40\%.$

Required:

Prepare the journal entry to record the tax provision for $2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Record the income taxes.

Transaction

General Journal

Debit

Credit

$1$The information that follows pertains to Julia Company:

$($a$)$ Temporary differences for the year $2024$ are summarized

below.

Expenses deducted in the tax return, but not included in the

income statement:Prepaid $8,700$

expenseExpenses reported in the income statement, but not deducted in

the tax return:expense

$$($b$)$ No temporary differences existed at the beginning of $2024.$

$($c$)$ Pretax accounting income was $$74,700$ and taxable income

was $$8,700$ for $2024.$

$($d$)$ There were no permanent differences.

$($e$)$ The tax rate is $40\%.$

Required:

Prepare the journal entry to record the tax provision for $2024.$

Note: If no entry is required for a transaction$/$event$,$ select

$"$No journal entry required" in the first account field.

Record the income taxes.