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2021 is three lines Exercise 19-23 (Part Level Submission) Blossom Inc. reports the following...

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Accounting

2021 is three linesimage

Exercise 19-23 (Part Level Submission) Blossom Inc. reports the following pretax income (loss) for both financial reporting purposes and tax purposes. Year 2018 2019 2020 2021 Pretax Income (Loss) $120,000 107,000 (220,000) 307,000 Tax Rate 17% 17% 19% 19% The tax rates listed were all enacted by the beginning of 2018. (a) Prepare the journal entries for the years 2018-2021 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. (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.) Date Account Titles and Explanation Debit Credit 2018 2019 2020 2021

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