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Guerrerod17 Guerrerod17
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5 years ago
At the end of 2010, a firm reported $200,000 of credit sales for income statement purposes. Of
that amount, only $60,000 had been collected. In addition, $20,000 of credit sales from 2009 had
not been collected as of Dec. 31, 2010. Assume for tax purposes that only collected sales are
taxable. As of Dec. 31, 2010, this firm has a future
A) $140,000 taxable difference
B) $160,000 deductible difference
C) $160,000 Taxable difference
D) $ 60,000 taxable difference
E) $140,000 deductible difference
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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Guerrerod17 Author
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5 years ago
Happy Dummy I'm impressed
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