Paseow all supporting computations. Points will be deducted if you do not show your wor he records for Bosch Co. show the following information for 2018: (3 points) Accrual basis sales recorded on the books were $480,000. Actual collections were $320,000 Life insurance on premiums on key officer policies was $3,800. Machinery was acquired in January for $300,000. Straight-line depreciation over a ten-year lite (no salvage value) is used. For tax purposes, MACRS depreciation is used and Bosch may deduct 14% for 2018. Interest received on tax exempt lowa State bonds was $9,500. The estimated warranty liability related to 2018 sales was $21,600. Actual repair costs under warranties during 2018 were $13,600. Pretax financial income is $600,000. The tax rate is 21%. (a) Prepare a schedule starting with pretax financial income and compute taxable income. (b) Prepare the journal entry to record income taxes for 2018. Date Account Titles DebitCredit