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Business, 31.10.2019 06:31 taliyahjhonson1

The deville company reported pretax accounting income on its income statement as follows: 2018 $ 435,000 2019 355,000 2020 425,000 2021 465,000 included in the income of 2018 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 2019, $32,000 in 2020, and $6,400 in 2021. included in the 2020 income was $27,000 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 enteries to record income taxes for the year 2018 - 2021.

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