The pretax financial income (or loss) figures for Skysong Company are as follows.

2017		86,000
2018		(41,000	)
2019		(36,000	)
2020		113,000
2021		98,000

Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2017 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.)

Account Titles and Explanation Debit Credit 2017 Income Tax Expense 21500 Income Tax Payable 21500 2018 Deferred Tax Asset 8200 Allowance to Reduce Deferred Tax Asset to Expected R 8200 2019 Deferred Tax Asset 7200 Benefit Due to Loss Carryback 7200 2020 Income Tax Expense 22600 Deferred Tax Asset 15400 Income Tax Payable 7200 2021 Income Tax Expense 19600 Income Tax Payable 19600