Tamarisk AG reports the following pretax income (loss) for both book and tax purposes.

Year		Pretax Income (Loss)			Tax Rate
2020		114,000			40	%
2021		91,000			40	%
2022		(300,000	)		45	%
2023		125,000			45	%

The tax rates listed were all enacted by the beginning of 2020.

(a)

Prepare the journal entries for years 20202023 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 probable that one-half of the benefits of the loss carryforward will not be realized.