Ichabod Co. began operations on July 1, 2015 and appropriately uses the installment method of accounting. The following information pertains to Ichabod's operations for 2015:

Installment sales	720,000
Cost of installment sales	432,000
General and administrative expenses	72,000
Collections on installment sales	330,000

The balance in the deferred gross profit account at December 31, 2015 should be