Question: Gentry Inc. provides services under a subscription model. 2023 is Gentry Inc.'s first year of operations. At the end of 2023 , Gentry received $203,871

Gentry Inc. provides services under a subscription model. 2023 is Gentry

Gentry Inc. provides services under a subscription model. 2023 is Gentry Inc.'s first year of operations. At the end of 2023 , Gentry received $203,871 in cash for a subscription lasting 2 years. The service period is 2024-2025 and the service revenue is taxable in the year the payment is received. Gentry reported taxable income of $7,456,568 in 2023 , and the tax rate is 20%. On its 2023 Balance Sheet, the dollar value of the Deferred Tax item related to the rental prepayment would be

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