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$ 54,000Prepaid expense7,400

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

Warranty expense$ 8,400

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

(c) Pretax accounting income was $60,400 and taxable income was $7,400 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.