Hartz Co., which began operations on January 1, 2015, appropriately uses the installment-sales method of accounting. The following information pertains to Hartz's operations for the year 2015:

Installment sales		$2,400,000
Regular sales		960,000
Cost of installment sales		1,440,000
Cost of regular sales		576,000
General and administrative expenses		192,000
Collections on installment sales		576,000

The deferred gross profit account in Hartz's December 31, 2015 balance sheet should be