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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

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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