Company which began operations ion January 2, 2019 appropriately uses the installment sales method of accounting. The following information is available for 2019:

Installment accounts receivable, December 31, 2019 $1,400,000

Cash Collections 2019 $240,000

Deferred gross profit, December 31, 2019 $560,000

the 12/31/19 unadjusted deferred gross profit account (before recognition of 2019 realized gross profit) was:

A) 800,000

B) 656,000

C) 598,000

D) 840,000

E) 896,000