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The DeVille Company reported pretax accounting income on its income statement as follows: 2018 $ 390,000 2019 310,000 2020 380,000 2021 420,000 Included in the

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

2018 $ 390,000
2019 310,000
2020 380,000
2021 420,000

Included in the income of 2018 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 2019, $22,000 in 2020, and $4,400 in 2021. Included in the 2020 income was $18,000 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 entries to record income taxes for the years 20182021.

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