In January 2020, Pelican, Inc., established an allowance for uncollectible accounts (bad debt reserve) of $70,000 on its books and increased the allowance by $120,000 during the year. As a result of a client's bankruptcy, Pelican, Inc., expensed the allowance by $60,000 in November 2020. Pelican, Inc., deducted the $190,000 of increases to the allowance on its 2020 income statement but was not allowed to deduct that amount on its tax return. On its 2020 tax return, the corporation was allowed to deduct the $60,000 actual loss sustained because of its client's bankruptcy. On its financial statements, Pelican, Inc., treated the $190,000 increase in the bad debt reserve as an expense that gave rise to a temporary difference. On its 2020 tax return, Pelican, Inc., took a $60,000 deduction for bad debt expense. How is this information reported on Schedule M–3? Click here to access Form 1120, Schedule M-3. These amounts are reported on Schedule M–3, line 32, Part III as follows:
the $190,000 book bad debt expense is reported in column (a), the $ temporary difference is reported in column (b), and the $ tax return bad debt expense is reported in column (d). there are 5 blanks for this question i have them listed in bold. I have solved 3 of the 5 blanks, the answers i need are the ones where it says () both $ amounts