A17-18 Loss Carryback/Carryforward; Temporary Differences; Rate Change (LO 17-4) On 1 January 20X4, Dart Incorporated commenced business operations. The following information is available to you: 20X4 20X5 20X6 20X7 Earnings (loss) before tax $45,000 $ (300, 000) $45,000 $65, 000 Tax rate (enacted in each year) 360 361 320 30% Depreciation (original cost of assets, $500,000) 25,000 25,000 25,000 25,000 Capital cost allowance 30,000 0 60,000 50,000 Rental revenue recognized* 30,000 *There is a rent receivable account at the end of 20X4, because rent revenue was earned in 20X4 but will not be collected until 20X6. This amount is not part of taxable income in 20X4, but will be taxable income in 20X6 when it is collected. Required: Prepare journal entries to record tax for 20X4, 20X5, 20*6, and 20X7. Assume that the tax loss carryforward usage in 20X5 is considered to be not probable but that in 20X6 the balance of probability shifts and in 20X6 the loss usage is considered to be probable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)1 Record entry for current and deferred income tax expense payable. 2 Record entry for current income tax benefit recoverable. 3 Record entry for current and deferred income tax expense payable. 4 Record entry for current income tax benefit recoverable. 5 Record entry for current and deferred income tax expense payable. 6 Record entry for set-off of current income tax expense payable against loss carryforward