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Oriole Inc. reports the following incomes (losses) for both book and tax purposes (assume the carryback provision is used where possible): The tax rates listed
Oriole Inc. reports the following incomes (losses) for both book and tax purposes (assume the carryback provision is used where possible): The tax rates listed were all enacted by the beginning of 2020 . (a) Prepare the journal entries for each of the years 2020 to 2023 to record income taxes, assuming at December 31 , 2022, that it was more likely than not that the company would not be able to benefit from the remaining losses available to carry forward. (List all debit entries before credit entries. 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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