E$19\mathrm{.}12($LO $1,2)($Deferred Tax Asset with and without Valuation Account$)$ Jennifer Capriati Corp. has a deferred tax asset account with a balance of $$75,000$ at the end of $2019$ due to a single cumulative temporary diff erence of $$375,000.$ At the end of $2020,$ this same temporary diff erence has increased to a cumulative amount of $$450,000.$ Taxable income for $2020$ is $$820,000.$ The tax rate is $20\%$ for all years. No valuation account related to the deferred tax asset is in existence at the end of $2019.$ Instructions a$.$ Record income tax expense, deferred income taxes, and income taxes payable for $2020,$ assuming that it is more likely than not that the deferred tax asset will be realized. b$.$ Assuming that it is more likely than not that $$15,000$ of the deferred tax asset will not be realized, prepare the journal entry at the end of $2020$ to record the valuation account.

explain part b briefly and why the journal entry was created