Windsor Corporation had the following tax information. Year 2023 2024 2025 Taxable Income $366,000...
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Windsor Corporation had the following tax information. Year 2023 2024 2025 Taxable Income $366,000 396,500 488,000 Tax Rate 35 % 30 30 Taxes Paid Account Titles and Explanation $128,100 118,950 146,400 In 2026, Windsor suffered a net operating loss of $585,600, which it elected to carryback. The 2026 enacted tax rate is 29%. Prepare Windsor's entry to record the effect of the loss carryback. (List debit entry before credit entry. 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 O for the amounts.) Debit Credit
Windsor Corporation had the following tax information. In 2026, Windsor suffered a net operating loss of $585,600, which it elected to carryback. The 2026 enacted tax rate is 29%. Prepare Windsor's entry to record the effect of the loss carryback. (Uist debit entry before credit entry. Credit occount titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter Ofor the amounts)
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