12 The Deville Company reported pretax accounting income on its income statement as follows: 0.89 moints 2021 2022 2023 2024 $390,000 310,000 380,000 420,000 cBook Included in the income of 2021 was an installment sale of property in the amount of $44,000. However, for tax purposes, Deville reported the income in the year cash was collected. Cash collected on the installment sale was $17,600 in 2022, $22,000 in 2023, and $4,400 in 2024 Print References Included in the 2023 income was $18,000 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. 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 View journal entry worksheet No Date General Journal Debit Credit 1 Dec 31, 2021 Income tax expense Deferred tax liability Income taxes payable 138,400 2 Dec 31, 2022 Income tax expense Deferred tax liability Income taxes payable 131,040 7 3 Dec 31, 2023 Income tax expense Deferred tax liability Income taxes payable 96,000 4 Dec 31, 2024 Income tax expense Deferred tax liability Income taxes payable 106,100