accounts to use:

• Allowance to Reduce Deferred Tax Asset to Expected Realizable Value
• Allowance to Reduce Future Tax Asset to Expected Realizable Value
• Current Tax Benefit
• Current Tax Benefit - Discontinued Operations
• Current Tax Expense
• Current Tax Expense - Discontinued Operations
• Current Tax Payable
• Deferred Tax Asset
• Deferred Tax Benefit
• Deferred Tax Benefit - Discontinued Operations
• Deferred Tax Benefit-OCI
• Deferred Tax Expense
• Deferred Tax Expense - Discontinued Operations
• Deferred Tax Expense-OCI
• Deferred Tax Liability
• FV-NI Investments
• FV-OCI Investments
• Future Tax Asset
• Future Tax Benefit
• Future Tax Expense
• Future Tax Liability
• Income Tax Payable
• Income Tax Receivable
• Investment Income or Loss
• Land
• No Entry
• Retained Earnings
• Unrealized Gain or Loss
• Unrealized Gain or Loss-OCI

Blue Spruce Corporation had the following tax information: Year Tax Rate 2017 31% Taxable Income $389,000 311,000 399,100 Taxes Paid $120,590 93,300 119,730 2018 30% 2019 30% In 2020, Blue Spruce suffered a net operating loss of $557,000, which it decided to carry back. The 2020 enacted tax rate is 25%. Prepare Blue Spruce'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 O for the amounts.) Year Account Titles and Explanation Debit Credit 2020