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Prepare the journal entries for the years 2017-2019 to record income taxes payable (refundable), ncome tax expense (benerit), and the tax effects of the loss
Prepare the journal entries for the years 2017-2019 to record income taxes payable (refundable), ncome tax expense (benerit), and the tax effects of the loss carryback and carryforward. Assume that Pharoah elects the carryback provision where possible and expects to realize the benefits of any loss carryforward in the year that immediately follows the loss year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit 2017 To record carryback.) (To record carryforward.) 2018 2019
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