Use the following data for Questions 4 and 5 1. Actual warranty repairs made in 2021 and allowed to be deducted for tax purposes amounted to $35.000. Warranty expense recorded in 2021 was $25,000 2 For years before 2021, warranty expense recorded was $60,000 and total repairs made under warranty amounted to $10,000. 3. The rate for all years is 30% QUESTION The journal entry to record Deferred Tax Expense for 2021 would include which item? Select one: O a DEBIT Deferred tax expense for $3,000 O b. CREDIT Deferred tax expense for $3,000 Oc. CREDIT Deferred tax expense for $12,000 Od DEBIT Deferred tax expense for $12,000 Question 5 Not yet answered Marked out of 2.00 Use the following data for Questions 4 and 5 1. Actual warranty repairs made in 2021 and allowed to be deducted for tax purposes amounted to $35,000. Warranty expense recorded in 2021 was $25,000 2. For years before 2021, warranty expense recorded was $60,000 and total repairs made under warranty amounted to $10,000 3. The rate for all years is 30% Flag question QUESTION The December 31, 2021 balance sheet would show which item for Deferred Taxe Select one oa Deferred tax asset for $3,000 Ob. Deferred tax liability for 3,000 Oc. Deferred tax asset for $12,000 Od Deferred tax liability for $12.000