Wynn Farms began its business in 2020. Below is a schedule of income (both financial and taxable) for 2020 and 2021, along with taxes paid at the 2020 and 2021 rate of 25%. In 2022, Wynn farms reported a net operating loss of $80,000 for both financial reporting and tax purposes. Also, the enacted tax rate changed to 30% for 2022 and subsequent years. Assuming Wynn is eligible to carry back net operating losses for two years and carry forward any remaining unused loss, prepare the income tax entry for Wynn for 2022. Check figure: Income Tax Expense (credit) \$20,750. NOTE: Since the plug is a credit, you could also call the account Income Tax Benefit