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Tower Corp. began operations on January 1 , 2 0 X 2 . For financial reporting, Tower recognizes revenue from all sales under the accrual
Tower Corp. began operations on January X For financial reporting, Tower recognizes revenue from all sales under
the accrual method. However, in its income tax returns, Tower reports qualifying sales under the installment method.
Tower's gross profit on these installment sales under each method is as follows:
The income tax rate is for and future years. There are no other temporary or permanent differences. In its
December X balance sheet, what amount should Tower report as a liability for deferred income taxes?
$
$
$
$
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