In December 20X2, Krueger Corporation collected cash of $66,000 and recorded it as Unearned Rent Revenue. The amount will be earned as follows: $44,000 in 20X2 and $22,000 in 20X3. Krueger's pretax financial income is $400,000 for 20X1 and $500,000 for 20X2. The tax rate is 20% for all years. What will Krueger report as a Deferred Tax Asset or Deferred Tax Liability at December 31, 20X2 with regard to these transactions?
โ $4,400 Deferred Tax Liability
โ $8,800 Deferred Tax Asset
โ $8,800 Deferred Tax Liability
โ $4,400 Deferred Tax Asset
