A business purchases a property for $60,000 and sells it for $120,000 after two years. Payments will be collected for three years after the sale. For tax purposes, assume that the transaction qualified for use of the installment sales method and the assumed tax rate is 20%. What type of tax treatment is provided for this transaction? Select a Choice Below current question choices OptionA A deferred tax asset of $12,000 is recorded in the year of payment made. OptionB An income tax liability of $12,000 is recorded in the year of sale. OptionC A deferred tax liability of $12,000 is recorded in the year of sale. OptionD A deferred tax liability of $12,000 is recorded in the year of payment made