In $2023,$ Blossom Inc. reported pretax accounting income of $$130,000.$ In $2024,$ the company had a pretax accounting income of

$$57\mathrm{.}600.$ In $2025,$ the company had pretax losses of $$209,200.$ The following year, the company's pretax accounting income was

$$171,600.$ Income for tax purposes was the same as for accounting for all years. Blossom's tax rate was $25\%$ for $2023$ and $2024,28\%$

for $2025$ and $26\%$ for $2026$ and subsequent years. The tax rates were all enacted by the beginning of $2023.$

Prepare the journal entries for the years $2023$ to $2026$ to record income taxes. Assume that Blossom's policy is to carry back any tax

losses first, and that at the end of $2025,$ the loss carryforward benefits are judged more likely than not to be realized in the future.

Blossom follows IFRS. $($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 $0$ for the amounts. Record journal entries in the order presented in the problem. List

all debit entries before credit entries$)$

Date

$2023$

$($To record benefit from loss carryback$)$

$($To record deferred tax benefit from loss carryforward$)$

$($To record deferred tax expense$)$

Debit

Credit

Account Titles and Explanation