Metlock Inc. reports the following pretax income $($loss$)$ for both financial reporting purposes and tax purposes. Metlock Inc. follows

IFRS.

The tax rates were all enacted by the beginning of $2023.$

$($a$)$

Your answer is partially correct.

Prepare the journal entries for the years $2023$ to $2026$ to record income taxes, assuming the tax loss is first carried back and that

at the end of each year, the loss carryforward benefits are judged more likely than not to be realized in the future. $($Credit account

titles are qutomatically 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

Account Titles and Explanation

Debit

Credit

Current Tax Expense

Income Tax Receivable

$106500$

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

$|$