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

2021	$	430,000
2022		350,000
2023		420,000
2024		460,000

Included in the income of 2021 was an installment sale of property in the amount of $62,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $24,800 in 2022, $31,000 in 2023, and $6,200 in 2024. Included in the 2023 income was $26,000 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 20212024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

No	Date	General Journal	Debit	Credit
1	Dec 31, 2021	Income tax expense	172,000
		Income tax payable		147,200
		Deferred tax liability		24,800
2	Dec 31, 2022	Income tax expense	140,620
		Deferred tax liability	9,300
		Income tax payable		149,920
3	Dec 31, 2023	Income tax expense	98,500
		Deferred tax liability	7,750
		Income tax payable		106,250
4	Dec 31, 2024	Income tax expense	115,000
		Deferred tax liability	1,550
		Income tax payable		116,550