DeVille Company began operations in $2024$ and reported a net operating loss of $\backslash (\backslash$$ $7\backslash )$ million for financial reporting and tax purposes. The enacted tax rate is $\backslash (25\backslash \%\backslash ).$

Prepare the journal entry to recognize Deville's income tax benefit from the net operating loss. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole dollars $($i$.$e$.5,500,000$ would be written as $\backslash (5,500,000\backslash )).)$

Journal entry worksheet

$1$

Record the income tax benefit of the net operating loss.

Note: Enter debits before credits.