-/1 Question 1 of 2 View Policies Current Attempt in Progress Windsor Corporation had the following tax information Year 2018 2019 2020 Taxable income $390,000 422.500 520.000 Tax Rate 35 % 30 30 Taxes Paid $136,500 126,750 156,000 In 2021, Windsor suffered a net operating loss of $624,000, which it elected to carryback. The 2021 enacted tax rate is 29%. Prepare Windsor's entry to record the effect of the loss carryback. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Income Tax Refund Receivable Benefit Due to Loss Carryback e Textbook and Media List of Accounts Attempts: 0 of 5 used Submit Answer Save for Later Last saved 1 day ago Saved work will be auto-submitted on the due date, TE Question 2012 L 11 View Policies Current Attempt in Progress Tamarisk Inc. incurred a net operating loss of $480,000 in 2020. Combined income for 2018 and 2019 was $336,000. The tax rate for all years is 20%. Tamarisk elects the carryback option. Prepare the journal entries to record the benefits of the loss carryback and the loss carryforward. Tamarisk expects to return to profitability in 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Credit Debit (To record loss carryback) (To record loss carryforward) Faso ser e Textbook and Media List of Accounts Attempts: 0 of 5 used Submit Answer Project Shnson Save for later eeeh 12.0.44 ichal