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5. In 2020, ABC generated installment sales income of $58,400 (all on account). Cash is...

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Accounting

5. In 2020, ABC generated installment sales income of $58,400 (all on account). Cash is expected to be collected in the following years:
2021: $7,300
2022: $29,200
2023: $21,900
Assume tax rate of 22% in 2020 and 27% beginning in 2023. The balance of the deferred tax account at the end of 2020 is?

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