A. J. Johnson & Co. recorded certain revenues on its books in 2011 and 2012 of $15,400 and $16,600, respectively. However, such revenues were not subject to income taxation until 2013. The company records reveal pretax financial income and taxable income for the 3-year period as follows:

Assume that Johnson's tax rate is 40% for all periods.

Instructions:
Prepare the journal entries necessary at the end of each year to record incometaxes.

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Financial Income Taxable Income 2011. 2012 2013 $44,200 38,200 21.100 $28.800 21.600 53.100