10 The DeVille Company reported pretax accounting income on its income statement as follows: 1...
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10 The DeVille Company reported pretax accounting income on its income statement as follows: 1 points 2021 2022 2023 2024 $350,000 270,000 340,000 380,000 eBook Print Included in the income of 2021 was an installment sale of property in the amount of $50,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $20,000 in 2022, $25,000 in 2023, and $5,000 in 2024. Included in the 2023 income was $15,000 interest from investments in municipal governmental bonds. The enacted tax rate for 2021 and 2022 was 40%, but during 2022, new tax legislation was passed reducing the tax rate to 25% for the years 2023 and beyond. References Required: Prepare the year-end journal entries to record income taxes for the years 2021-2024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record 2021 income taxes. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 Journal entry worksheet
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