At the end of 2021, a company has a deferred tax asset with a balance of $480,000.The company has a valuation allowance account related to the deferred tax asset. The valuation account has a balance of $205,000 at the beginning of 2021. If it is more likely than not that all of the deferred tax asset will be realized, then (enter the number that represents the correct answer): income tax expense will be debited by $205,000.   income tax expense will be credited by $205,000. deferred tax asset will be debited by $275,000 the valuation account will be credited by $205,000.

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