Zurich Company reports pretax financial income of $70,000 for 2017. The following item causes taxable income to be different than pretax financial income: Rent revenue on the tax return is greater than rent revenue recognized on the income statement by $20,000 Zurich's tax rate is 35% for all years, and the company expects to report taxable income in all future years There are no deferred taxes at the beginning of 2017. Required: Prepare Z Company's journal entry to record 2017 taxes