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please help Burgher Ltd. had a taxable loss of $390,000 in 20x7. The tax rate in 20X7 is 32% In the past three years, the

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Burgher Ltd. had a taxable loss of $390,000 in 20x7. The tax rate in 20X7 is 32% In the past three years, the company had the following faxable income and tax rates Taxable income Tax rate 24 20X6 $260,000 $150,000 $104,NNO 361 40% There are no temporary differences other than those created by income tax losses. Required: 1. What is the amount of refund that will be claimed in 20x7, taking the loss back to the oldest possible year, first? Provide the journal entry for income tax receivable in 20x7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Refund amount Com View transaction list Journal entry worksheet > Record the entry for income tax recoverable. Note: Enter debits before credits General Journal Debit Credit Date 20X7 o Record entry Clear entry View general journal 2 Is there a different pattern for claiming a refund that the company could use? Recalculate the refund and provide the journal entry under this assumption. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Red Amount View transaction list Journal entry worksheet 1 > Record the entry for income tax recoverable. View transaction list Journal entry worksheet Record the entry for income tax recoverable. Note: Enter debits before credits General Journal Debit Credit Date 20X7 Record entry Clear entry View general journal

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