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(7 minutes) MOY Inc. has a warranty liability at the end of 2020 and 2021 equal to $-0- and $8M, respectively. MOY also has an

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(7 minutes) MOY Inc. has a warranty liability at the end of 2020 and 2021 equal to $-0- and $8M, respectively. MOY also has an installment receivable at the end of 2020 and 2021 equal to $20M and $10M, respectively. The income tax rate is 20%. MOY will report the following Deferred Tax Account(s) on its 2021 balance sheet: $.4M Noncurrent Deferred Tax Liability. $2M Noncurrent Deferred Tax Asset. $1.6M Noncurrent Deferred Tax Asset and $2M Noncurrent Deferred Tax Liability. $.4M Noncurrent Deferred Tax Asset

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