On December $31,2020,$ Bertram Co$.$ recorded a deferred tax asset of $$600,000$ as a result of an available loss carry forward. On April $20,2021,$ they determined that it is probable that $40\%$ of that asset will not be realized. What will they need to include in the journal entry to record this reduction in asset value?

Select answer from the options below

A debit to Income Tax Expense for $$360,000.$

A credit to the Deferred Tax Asset of $$240,000.$

A debit to Income Tax Payable of $$240,000.$

A credit to Income Tax Expense for $$360,000.$