The Current Year is 2018: Tax Levy is $320,000; 1% estimated uncollectible Cash collections during 2018: From 2018 levy collected during 2018 $260,000 From 2018 levy collected during 1st 60 days of 2019 $ 40,000 Using Modified Accrual accounting, the amount of 2018 recognized revenue and the amount of 2018 deferred revenue would be equal to: $300,000 revenue and $16,800 deferred revenue. $300,000 revenue and $-O-deferred revenue. $260,000 revenue and $40,000 deferred revenue. $300,000 revenue and $-O-deferred revenue