The Brownwood Company Reports the Following for Both Pretax Financial

The Brownwood Company reports the following for both pretax financial and taxable income: Brownwood uses the carryback provision for net operating losses when possible.Congress has enacted a tax rate for 2014 and future years of 40%.The entry on December 31, 2013, to record income tax expense would include a

A) debit to Income Tax Refund Receivable for $24, 000
B) debit to Income Tax Refund Receivable for $45, 000
C) credit to Income Tax Benefit from Operating Losses for $45, 000
D) credit to Income Tax Expense for $45, 000