porary difference, and which are nontaxa ondeductible. For the items that are porary differences, indicate if it is a defer isset or deferred tax liability. > Question 1 4 pts Rent collected in advance of period earned, $44,000 Type [ Select] > Deferred Tax Asset or Liability [ Select] Question 2 4 pts Premium payment for life insurance policy on president, $75,000 Type [ Select] Deferred Tax Asset or Liability [ Select ] Question 3 4 pts Excess of income on installment sales over income reportable for tax purposes, $125,000 Type [ Select] Deferred Tax Asset or Liability [ Select]