Loss carryforward is recorded by which of the following journal entries?

• A. Debit Deferred Tax Asset; Credit Deferred Income Tax Expense
• B. Debit Income Tax Receivable; Credit Current Income Tax Expense
• C. Debit Current Income Tax Expense; Credit Income Taxes Payable
• D. Debit Tax Refund Receivable; Credit Income Tax Benefit

Answer: (A)