As of December 31, 2010, the Austin Company Reported a Deferred

As of December 31, 2010, the Austin Company reported a deferred tax asset of $60, 000 related to accrued, unpaid warranty costs.However, since profits have been declining, Austin decides that it is more likely than not that $24, 000 of the deferred tax asset will not be realized.The entry to record the valuation allowance would include a

A) debit to Income Tax Expense for $60, 000
B) credit to Income Tax Expense for $24, 000
C) debit to Allowance to Reduce Deferred Tax Asset to Realizable Value for $24, 000
D) credit to Allowance to Reduce Deferred Tax Asset to Realizable Value for $24, 000