On December 31 2020, XYZ Inc. has an account receivable of $2,000 for consulting fees it earned during the year Consulting revenues are only taxable when collected. XYZ normally receives payment for the services rendered one month atter the client is invoiced. Assuming a 20% tax rate, these revenues shall result in Multiple Choice a deferred tax liability of $2.000 a ferred to ability of $400 a difered text of $400 Oferred tax set of 52.000