| Gore Company, organized on January 2, 2016, had pretax accounting income of $6,100,000 and taxable income of $8,560,000 for the year ended December 31, 2016. The 2016 tax rate was 40%. The only difference between book and taxable income is estimated warranty costs. Expected payments and scheduled enacted tax rates are as follows: |
| 2017 | $820,000 | 35% |
| 2018 | 410,000 | 35% |
| 2019 | 410,000 | 35% |
| 2020 | 820,000 | 30% |
| Required: |
| Prepare one compound journal entry to record Gore’s provision for taxes for the year 2016 |
