A company has a pretax income of $250,000 for the year. Included in pretax income are the following: - Vacation expense accrued of $50,000 for employees, none of which is expected to be paid within 2 1/2 months of the end of the year and is accordingly not expected to be deducted on the company's tax return for the year. - Salary expense paid to the CEO of $1,100,000 that is non-performance based for which only $1 million will be deductible. The additional $100,000 will never be deductible for tax purposes Assume the tax rate is 40%. Record the journal entries required for FAS 109 (ASC 740) purposes to record the tax provision for the year.
								ASC 740 Journal Entries Required:
								Dr. Current income tax expense
								Cr. Current income tax payable
		Dr. Deferred tax asset
		Cr. Deferred tax benefit

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