The Following Information Was Taken from the Annual Report of Jones

Short Answer

The following information was taken from the annual report of Jones Inc.
$$\begin{array} { | l | l | c | } \hline & 2017 & \mathbf { 2 0 1 6 } \\\hline \text { BALANCE SHEET } & & \\\hline \text { Deferred incame tax liability } & \$ 29,700 & \$ 28,300 \\\hline & & \\\hline \text { INCOME STATEMENT } & & \\\hline \text { Incame befare taxes } & \$ 89,000 & \\\hline \text { Incame tax expense } & \mathbf { (3 0 , 4 0 0 ) } & \\\hline \text { Net incame } & \$ 57,600 & \\\hline \text { Effective incame tax rate 40\% } & & \\\hline\end{array}$$
Based on this information, what journal entry should Jones make in 2017 to record its income taxes?
A
a.
$\begin{array}{lrr} \text { Income Tax Expense} &30,400\\ \text {Deferred Income Tax } &29,700\\ \text {Deferred Income Tax } &&28,300\\ \text { Income Tax Payable } &&31,800\\\end{array}$

b.
$\begin{array}{lrr} \text { Income Tax Expense} &30,400\\ \text {Deferred Income Tax } &29,700\\ \text { Income Tax Payable } &&700\\\end{array}$

c.
$\begin{array}{lrr} \text { Income Tax Expense} &31,800\\ \text {Deferred Income Tax } &1,400\\ \text { Income Tax Payable } &&30,400\\\end{array}$

d.
$\begin{array}{lrr} \text { Income Tax Expense} &30,400\\ \text {Deferred Income Tax } &1,400\\ \text { Income Tax Payable } &&29,000\\\end{array}$