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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!ANSWER CORRECTLY OR I WILL THUMBS DOWN AND LEAVE A COMMENT PLEASEE AND THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!!
Sandhill Inc. reports the following incomes (losses) for both book and tax purposes (assume the carryback provision is used where possible):
The tax rates listed were all enacted by the beginning of 2020.
(a)
Prepare the journal entries for each of the years 2020 to 2023 to record income taxes, assuming at December 31,2022, that it was more likely than not that the company would not be able to benefit from the remaining losses available to carry forward. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Prepare the journal entries for each of the years 2020 to 2023 to record income taxes, assuming at December 31,2022, that it
was more likely than not that the company would not be able to benefit from the remaining losses available to carry forward. (List
all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do
not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
2020
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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!ANSWER CORRECTLY OR I WILL THUMBS DOWN AND LEAVE A COMMENT PLEASEE AND THANK YOU!!!!!!!!!!!!!!!!!!!!!!!!!!
! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !

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