PROBLEM #1: Motown Corporation enters into an installment sale with Max Corporation in 20X2. Motown recognizes the sale on an accrual basis (when sale is complete) for book purposes and on an installment sale method (cash) basis for tax purposes. Facts are as follows: Initial Year of installment sale 20X2 20X3 20X4 Tax Rate 20X2 20X3 20X4 $ $ $ Revenue Recognition Book 248,000 $ 15% Book Income 20X2 387,000 39,427 122,400 Tax 70% 30%

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