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On May 1 , 2 0 1 9 , Matador received $ 3 3 7 , 8 0 0 for the sale of merchandise to

On May 1,2019, Matador received $337,800 for the sale of merchandise to a customer. The contract specified that Matador would deliver their product in equal monthly quantities over 60 months. When Matador recorded the sale the bookkeeper credited a nominal account. No adjusting or correcting entries were made and the bookkeeper realized the error after 2022 ICO was calculated. Determine the adjustment to ICO. Matador has a corporate tax rate of 30%.
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