Question: Please Answer All questions The DeVille Company reported pretax accounting income on its income statement as follows: 2018 2019 2020 2021 $400,00o 320,000 390,000 430,000

 Please Answer All questions The DeVille Company reported pretax accounting income

Please Answer All questions

The DeVille Company reported pretax accounting income on its income statement as follows: 2018 2019 2020 2021 $400,00o 320,000 390,000 430,000 Included in the income of 2018 was an installment sale of property in the amount of $48,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $19,200 in 2019, $24,000 in 2020, and $4,800 in 2021 Included in the 2020 income was $20,000 interest from investments in municipal bonds. The enacted tax rate for 2018 and 2019 was 30%, but during 2019 new tax legislation was passed reducing the tax rate to 25% for the years 2020 and beyond. Required: Prepare the year-end journal entries to record income taxes for the years 2018-2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ournal entry worksheet Record 2018 income taxes. Note: Enter debits before credits. Debit Credit Date Dec 31, 2018 General J Record entry Clear entry View general journal

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