A business renders services to a customer for $26,000 on account. Which of the following accounts is credited?

List the two distinctly different gains and losses that are included on the income statement after continuing operations

What will be an ideal response

TLR Productions reported income before taxes of $175,000 for the years 2013, 2014, and 2015. In 2016 they experienced a loss of $300,000. TLR had a tax rate of 25% in 2013 and 2014, and a rate of 35% is 2015 and 2016. Assuming the company uses the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2016?

A) $43,750 B) $75,000 C) $87,500 D) $105,000