Greenville Industries uses the accrual basis to account for all sales transactions. Sales for 2018...
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Greenville Industries uses the accrual basis to account for all sales transactions. Sales for 2018 total $ 510, 000. Included in this amount is $ 55, 000 in receivables from sales on installment. Installment sales are considered revenue for book purposes, but not for tax purposes. Operating expenses total $ 130, 000 and are treated the same for book and tax purposes. Assuming a 20% tax rate, what is Greenville's income tax payable?
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