Schuss Corporation sold equipment to Potsdam Company for $20,000. The equipment is on Schusss books at a
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Schuss Corporation sold equipment to Potsdam Company for $20,000. The equipment is on Schuss’s books at a net amount of $13,000. Schuss collected $10,000 in 2012, $5,000 in 2013, and $5,000 in 2014. If Schuss uses the cost-recovery method, what amount of gross profit will be recognized in each year?
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