On 1 January 20X7, Change Incorporated commenced business operations. At 31 December 20X9, the following information relates to Chang: Earnings (loss) before tax Tax rate (enacted in each year) Depreciation expense (asset cost was $610,000) Capital cost allowance Dividends received (nontaxable) Golf club dues 20x7 $304,900 30% 51,000 183,000 38,600 9,700 20x8 $(456,100) 358 51,000 0 60,500 9,700 20x9 $725,000 40% 51,000 79,000 60,500 9,700 Required: 1. Prepare journal entries to record tax for 20x7, 20X8, and 20X9. Assume that the loss carryforward usage in 20x8 is considered to be probable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for current and deferred income tax expense payable. Debit Credit Note: Enter debits before credits. Date General Journal 20X7 Income tax expense Income tax payable Deferred income tax 2. Prepare journal entries to record tax for 20x7, 20x8, and 20X9. Assume that the loss carryforward usage in 20x8 is not considered to be probable but is considered to be probable in 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for current and deferred income tax expense payable. Note: Enter debits before credits. Date General Journal Debit Credit 20X7 Income tax expense Income tax payable Deferred income tax Record entry Clear entry View general Journal