Larkspur Corporation had the following tax information.

Year		Taxable Income		Tax Rate			Taxes Paid
2018		$378,000		35	%		$132,300
2019		409,500		30			122,850
2020		504,000		30			151,200

In 2021, Larkspur suffered a net operating loss of $604,800, which it elected to carryback. The 2021 enacted tax rate is 29%. Prepare Larkspurs 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.)

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