Tamarisk Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Year Pretax Income (Loss) Tax Rate 2018 $128,000 17 % 2019 118,000 17 % 2020 (290,000 ) 19 % 2021 306,000 19 % The tax rates listed were all enacted by the beginning of 2018. Collapse question part

(a) Prepare the journal entries for the years 20182021 to record income tax expense (benefit) and income taxes payable (refundable) and the tax effects of the loss carryforward, assuming that at the end of 2020 the benefits of the loss carryforward are judged more likely than not to be realized in the future.

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