Kingbird Corporation had the following tax information.

Year		Taxable Income		Tax Rate			Taxes Paid
2018		$372,000		35	%		$130,200
2019		403,000		30			120,900
2020		496,000		30			148,800

In 2021, Kingbird suffered a net operating loss of $595,200, which it elected to carryback. The 2021 enacted tax rate is 29%.

Prepare Kingbirds 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount