ACCT 312

nating 1-1 - Assigned Top Hat Subscription Expires in 120 Due in 22 minutes Q: Accounting for income Homework - Unanswered 3. Meder Corp. uses the option to recognize installment sales of real property as taxable as the installment payments are collected. During 2018, installment sales of real property totaled $12,500. The beginning balance in notes receivable related to real property installment sales was $123,400 while the ending balance in that account was $126,300. What is the difference between pretax accounting income and taxable income based on this information? Taxable is $ 12,500 lower than pretax accounting income Taxable is $ 12,500 higher than pretax accounting income- C Taxable is $2,900 lower than pretax accounting income D Taxable is $2,900 higher than pretax accounting income E Not enough information to determine