Data for Jesse Ltd for the year ended $30$ June $2022$ are as follows:

Accounting profit before tax:

$$30,000$

Depreciation $$ plant

$20,000$

Depreciation $$ equipment

$1,000$

Entertainment expense

$10,000$

Long service leave expense

$4,000$

Plant cost $($bought $2$ years ago$)$

$200,000$

Equipment cost $($purchased $6$ years ago$)$

$10,000$

Additional information:

The ATO allows straight line depreciation rate of $25\%$ for both plant and equipment. Jesse Ltd applies a straight line rate of $10\%$ in its accounting records. Long service leave is deductible when paid. No employee has been paid long service leave in the current year. Entertainment expense are not tax deductible. The company tax rate is $30\%.$

REQUIRED:

Calculate the taxable income of Jesse Ltd for $30$ June $2022$ and prepare the journal entry for the current year income tax expense.