Question 2 of 2 View Policies Current Attempt in Progress Tamarisk Inc. incurred a net operating loss of $480,000 in 2020. Combined income for 2018 and 2019 was $336,000. The tax rate for all years is 20%. Tamarisk elects the carryback option Prepare the journal entries to record the benefits of the loss carryback and the loss carryforward. Tamarisk expects to return to profitability in 2021. (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 for the amounts) Account Titles and Explanation Debit Credit (To record loss carryback) (To record loss carryforward) e Textbook and Media List of Accounts Attempts: 0 of 5 used Sutmit