In 2016 to 2018 , The company earned taxable income of $600,000,$600,000 and $800,000, and paid income tax of $130,000,$260,000, and $160,000. It is now the end of 2019 ; the company incurs a loss of $3,000,000 for tax purposes and earns an accounting loss before tax of $2,500,000. The difference between the accounting and taxable income is due to capital cost allowance exceeding the depreciation expense. The tax rate is currently 40%. The Company anticipates using only 60% of the losses carried forward within the allowable carryforward period. Record the journal entries for income tax expense and income tax payable or receivables for 2019. Use the valuation account for the unrecognized portion of losses carried forward. 1. Record the tax recovery from the loss carryback 2. Record the tax losses carried forward 3. Record the deferred tax liability on the temporary differences 4. Record the unrecognized portion of the loss carried forward