On January 1, 2020, Tickle Ltd. sold land for $240,000 (original cost of $180,000), receiving a note receivable in return. The note bears interest at 10%, which will be paid at three annual instalments of $96,510 starting December 31, 2020. Assuming that collection of the note is very uncertain, how much revenue should Tickle recognize when it transfers title and ownership of the land?

	$0
	$180,000
	$240,000
	$96,510