Journalize the entries to record the following selected transactions of Grove Monuments, Inc.:
Apr. 15. Paid the first installment of the estimated income tax for the current fiscal year ending December 31, $70,000. No entry had been made to record the liability.
June 15. Paid the second installment of $70,000.
Sept. 15. Paid the third installment of $70,000.
Dec. 31. Recorded the estimated income tax liability for the year just ended and the deferred income tax liability, based on the transactions above and the following data:
Income tax rate .............. 40%
Income before income tax .......... $900,000
Taxable income according to tax return .... $800,000
Jan. 15. Paid the fourth installment of $110,000.