On 1 January 2017, Change Incorporated commenced business operations. At 31 December 2019, the following information relates to Chang:

2017 2018 2019

Earnings (loss) before tax $ 334,900 $ (486,100 ) $ 785,000

Tax rate (enacted in each year) 30 % 35 % 40 %

Depreciation expense (asset cost was $730,000) 63,000 63,000 63,000

Capital cost allowance 219,000 0 91,000

Dividends received (nontaxable) 41,000 66,500 66,500

Golf club due s 10,900 10,900 10,900

Required:

1. Prepare journal entries to record tax for 2017, 2018, and 2019. Assume that the loss carry forward usage in 2018 is considered to be probable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a. Record entry for current and deferred income tax expense payable. (2017)

b. Record entry for current and deferred income tax benefit receivable. (2018)

c. Record entry for current and deferred income tax expense payable. (2019)

d. Record entry for current and deferred income tax benefit receivable. (2019)

2. Prepare journal entries to record tax for 2017, 2018, and 2019. Assume that the loss carry forward usage in 2018 is not considered to be probable but is considered to be probable in 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a. Record entry for current and deferred income tax expense payable. (2017)

b. Record entry for current and deferred income tax benefit receivable. (2018)

c. Record entry for current and deferred income tax expense payable. (2019)

d. Record entry for current income tax benefit recoverable. (2019)