16-5 (Algo) Change in tax rate; record taxes for four years [LO16-2, 16-5, 16-6] The DeVille Company reported pretax accounting income on its income statement as follows: 2021 2022 2023 2024 $360,000 280,000 350,000 390,000 Included in the income of 2021 was an installment sale of property in the amount of $32,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $12,800 in 2022, $16,000 in 2023, and $3,200 in 2024. Included in the 2023 income was $11,000 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.) Journal entry worksheet 1 2 3 4 Record 2021 income taxes. Note: Enter debits before credits. Date Dec 31, 2021 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet 1 2 3 4 Record 2022 income taxes. Note: Enter debits before credits. Date Dec 31, 2022 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Record 2023 income taxes. Note: Enter debits before credits. Date Dec 31, 2023 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 Record 2024 income taxes. Note: Enter debits before credits. Date Dec 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal