Question number five---Riverbed Corporation had the following tax information.

Year		Taxable Income				Tax Rate		Taxes Paid
2015			$294,000			35%			$102,900
2016			332,000			30%			99,600
2017			399,000			30%			119,700

In 2018, Riverbed suffered a net operating loss of $476,000, which it elected to carry back. The 2018 enacted tax rate is 29%. Prepare Riverbeds entry to record the effect of the loss carryback.

Account titles Debit Credit