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Current Attempt in Progress Larkspur Corporation had the following taxinformation. In 2026, Larkspur suffered a net operating loss of $499.200, which it elected to carryback.

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Current Attempt in Progress Larkspur Corporation had the following taxinformation. In 2026, Larkspur suffered a net operating loss of $499.200, which it elected to carryback. The 2026 enacted tax rate is 29%. Prepare Larkspur's entry to record the effect of the loss carryback. (List debit entry before credit entry. 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 of or the amounts.)

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