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hello, i need help with entries of 2024 and 2025. The pretax financial income (or loss) figures for Blue Company are as follows. Pretax financial

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hello, i need help with entries of 2024 and 2025.
The pretax financial income (or loss) figures for Blue Company are as follows. Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 45% tax rate for 2021 and 2022 , and a 20%6 tax rate for the remaining years. Rrepare the journal entries for the years 2022 to 2026 to record income tax expense and the effects of the net operatirg loss. carrybacks and carryforwatds assuming Blue Company uses the carrytack provision. All income and iosses relate to normal operations. (in recording the benefits of a loss carrytorward, assume that no valuation account is deemed necesary] Itite elf debit entries before credit entries. Credit account titles ore outomatically indented when the amount is entered. Do not indent manuailes. If no entry is required, select "No Entry" for the account tities and enter O for the amounts. Recond joumol entries in the arder preented in the problem. Prepare the journal entries for the years 2022 to 2026 to record income tax expense and the effects of the net operating loss carrybacks and carryforwards assuming Blue Company uses the carryback provision. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary) (List oll deblt entries before credit entries. Credit account titles are outomatically indented when the amount is entered. Do not indent manualis if no entry is required, seiect "No Entry" for the account tittes and enter O for the amounts. Record joumal entries in the order presented in the groblem.) 2024 Deferred Tex Asset Income Tax Expense (To record loss carryforward) 2025 Income Tax Expense. 32400 Deferred TaxcAsset. 2026 Income Jax Expense 24400 Income Tax Payable

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