Question 5 of 8 View Policies Show Attempt History < > Current Attempt in Progress -Your answer is partially correct. Bramble Corporation had the following tax information: Year Taxable Income Tax Rate Taxes Paid 2017 $391,000 31% $121,210 2018 313,000 30% 93,900 2019 401,700 30% 120,510 2/4 III In 2020, Bramble suffered a net operating loss of $558,000, which it decided to carry back. The 2020 enacted tax rate is 25%. Prepare Bramble's entry to record the effect of the loss carryback. (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 O for the amounts.) Year Account Titles and Explanation 2020 Income Tax Receivable Deferred Tax Benefit eTextbook and Media List of Accounts Save for Later Debit 167000 Credit 167000 Attempts: 2 of 3 used Submit Answer