Business, 05.05.2020 19:40 emilyborland50
Sunland, Inc. uses the accrual method of accounting for financial reporting purposes and appropriately uses the installment method of accounting for income tax purposes. Installment income of $2700000 will be collected in the following years when the enacted tax rates are: Collection of IncomeEnacted Tax Rates 2020 $240000 25% 2021 540000 20% 2022846000 20% 20231074000 15% The installment income is Sunland's only temporary difference. What amount should be included in the deferred income tax liability in Sunland's December 31, 2020 balance sheet
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