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The DeVille Company reported pretax accounting income on its income statement as follows: 2016 2017...

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Accounting

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The DeVille Company reported pretax accounting income on its income statement as follows: 2016 2017 2018 2019 $435,000 355,000 425,000 465,000 Included in the income of 2016 was an installment sale of property in the amount of $64,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $25,600 in 2017, $32,000 in 2018, and $6,400 in 2019 Included in the 2018 income was $27,000 interest from investments in municipal bonds. The enacted tax rate for 2016 and 2017 was 30%, but during 2017 new tax legislation was passed reducing the tax rate to 25% for the years 2018 and beyond. Required: Prepare the year-end journal entries to record income taxes for the years 2016-2019. (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 3 4 Record 2017 income taxes. Note: Enter debits before credits. Date General Journal Debit Credit Income tax expense d tax liability Dec 31, 2017 Income tax payable 114,180 Record entry Clear entry View general journal

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