Sheridan Inc. reports the following pretax income (loss) for both book and tax purposes. Pretax Year Income (Loss) Tax Rate 2023 $120,000 20% 2024 93,000 20% 2025 (98,000) 25% 2026 120,000 25% The tax rates listed were all enacted by the beginning of 2023. Prepare the journal entries for years 2023-2026 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (List all debit entries before credit entries. 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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation 2023 Income Tax Expense Income Tax Payable 2024 Income Tax Expense Income Tax Payable 2025 Deferred Tax Asset Income Tax Expense (To record income taxes.) Income Tax Expense Allowance to Reduce Deferred Tax Asset to Expected Realiz Debit 24000 18600 24500 Credit 24000 18600 24500 2026 Income Tax Expense Deferred Tax Asset Income Tax Payable (To record income taxes.) Allowance to Reduce Deferred Tax Asset to Expected Realiz Income Tax Expense (To adjust allowance.) 30000 30000