On December 15, 2018, Rigsby Sales Co

On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2019, and December 15, 2020. Ignore interest charges.
-Rigsby has a December 31 year-end. In its December 31, 2018, balance sheet, Rigsby would report:

A) Realized gross profit of $100,000.
B) Deferred gross profit of $100,000.
C) Installment receivables (net) of $3,200,000.
D) Installment receivables (net) of $4,000,000.