Kingbird Corporation had the following tax information. Year 2018 2019 Taxable income $306,000 331,500 408,000 Tax Rate 35 % 30 Taxes Paid $107,100 99,450 122,400 2020 30 In 2021, Kingbird suffered a net operating loss of $489,600, which it elected to carryback. The 2021 enacted tax rate is 29%. Prepare Kingbird'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.) Account Titles and Explanation Debit Credit