Income Statement Presentation
Current deferred gross profit is subtracted from the total gross profit of the period to arrive at realized gross profit for the period on the income statement.
Realized gross profit from prior periods (realized this period) is then added to current realized gross profit.
Receivables on the balance sheet are normally separated and classified as current (or other assets if not related to normal operations or if they are noncurrent).
Under common practice deferred gross profit is reported as unearned revenue (even if not purely so--deferred taxes, etc.) SFAC #3 states deferred profit should be a contra-asset. Not settled yet!