willingham, inc., an accrual basis c corporation, reports pretax book income of $1,600,000. at the beginning of the year, willingham reported no deferred tax assets or liabilities on its balance sheet. at the end of the year, willingham's depreciable assets had a net book value of $15,000,000. it is subject to a 21% u.s. income tax rate in the current year and for the foreseeable future. willingham's book-tax differences include the following. estimate of uncollectible accounts at year-end $4,000,000 tax depreciation in excess of book 3,000,000 book gain from installment sale of nonbusiness asset, deferred for tax 2,000,000 interest income from school district bonds 200,000 willingham's current income tax expense is $fill in the blank 1 and deferred income tax expense is $fill in the blank 2 . prepare the gaap journal entries for willingham's income tax benefit or expense. journal date description post. ref. debit credit fill in the blank 4 fill in the blank 6 fill in the blank 8