The Information that follows pertains to Julia Company: (a) Temporary differences for the year 2024 are summarlzed below. Expenses deducted in the tax return, but not Included in the income statement: Depreciation Prepaid expense $50,000 7,000 Expenses reported in the Income statement, but not deducted in the tax return: Warranty expense $8,000 (b) No temporary differences existed at the beginning of 2024. (c) Pretax accounting Income was $56,000 and taxable Income was $7,000 for 2024. (d) There were no permanent differences. (e) The tax rate is 30%. 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 Journal entry worksheet Note: Enter debits before credits. The Information that follows pertains to Julia Company: (a) Temporary differences for the year 2024 are summarlzed below. Expenses deducted in the tax return, but not Included in the income statement: Depreciation Prepaid expense $50,000 7,000 Expenses reported in the Income statement, but not deducted in the tax return: Warranty expense $8,000 (b) No temporary differences existed at the beginning of 2024. (c) Pretax accounting Income was $56,000 and taxable Income was $7,000 for 2024. (d) There were no permanent differences. (e) The tax rate is 30%. 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 Journal entry worksheet Note: Enter debits before credits