Installment and cost-recovery-first methods of income recognition. Cunningham Realty Partners sold a tract of land costing S80.000 to

a- manufacturing firm for SI 20.000. The manufacturing firm agreed to pay S30.000 per year for four years (plus interests Compute revenue, expense, and income before ineome taxes for each of the four years using the installment method and the eost-recovery-lirst method. Ignore interest.
EXERCISES