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What is the amount of Greenville deferred tax asset

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Question - Greenville Industries uses the accrual basis to account for all sales transactions. Sales for 2018 total $ 500, 000. Included in this amount is $ 40, 000 in receivables from sales on installment. Installment sales are considered revenue for book purposes, but not for tax purposes. Operating expenses total $ 150, 000 and are treated the same for book and tax purposes. Assuming a 15% tax rate, what is the amount of Greenville's deferred tax asset or liability?

Reference no: EM132814385

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