At the end of the year, the deferred tax asset account had a balance of $12.8 million attributable to a cumulative temporary difference of $32 million in a liability for estimated expenses. taxable income is $38.0 million. no temporary differences existed at the beginning of the year, and the tax rate is 40%.prepare the journal entry(s) to record income taxes assuming it is more likely than not that one-fourth of the deferred tax asset will not ultimately be realized. note: these are the correct entries, i am just missing the values (dta is not zero): debit: income tax expense deferred tax asset : income tax payable 15.2debit: income tax expense : valuation allowance - deferred tax asset