At December $31,2025,$ Pharoah Corporation has a deferred tax asset of $$196,000.$ After a careful review of all available evidence, it is determined that it is more likely than not that $$58,800$ of this deferred tax asset will not be realized.

Prepare the necessary journal entry. $($List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit