On 1 January 2016, Alpha LLC sold land for $300,000. The original cost of the land was $180,000. The company received a down payment of $60,000, with the remaining balance to be paid in 2017. According to the installment method, in 2016 Alpha LLC will report profit of: Select one: a. $24,000 b. $48,000 c. $0. d. $40,000 Clear my choice The Canon Corporation sells ten copiers to the Title Company on October 15 for $40,000. Canon delivers the copiers to Title on October 20; Title pays $16,000, and agrees to pay the balance on November 10, Under the accrual basis, how much revenue should Canon recognize in November? Select one: A. $0 B. $16,000 C. $24,000 D. $40,000 Clear my choice