Question Content Area On January 1, 2016, Bedrock Company began recognizing revenues from all sales under the accrual method for financial reporting purposes and under the installment sales method for income tax purposes. Bedrock reported the following gross margin on sales for 2016 and 2017:   Accrual Installment Year Method Sales Method 2016 $1,200,000 $1,000,000 2017 1,800,000 1,400,000 The enacted tax rate for both 2016 and 2017 was 30%. Assuming there are no other temporary differences, 2017 what is the amount of deferred tax liability that Bedrock should report on its December 31, 2017 balance sheet? $120,000 $450,000 $60,000 $180,000

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