1. A company agreed to sell a property for $31,000. The property had a cost of $75,000 and accumulated depreciation of $50,000. The contract provided for a down payment of $18,000 to be received on January 1, 2015 and 5 consecutive payments of notes of $3,256 to be collected in every December 31. The interest rate of 8% is considered appropriate. The company's fiscal year- end is December 31. At the date of sale, the balance in the deferred profit account is (4 Points) Enter your answer 2. At the beginning of the second year, the balance of the unrecovered cost is (4 Points)