9. Garden Co. uses the installment sales method. Garden Co. sells a good costing P10,000 for an installment sale price of P16,000. Garden Co. accepts old merchandise as down payment and gives the customer a trade-in value of P4,000 for this merchandise. The fair value of the old merchandise is P6,000. Subsequent cash collections during the period amount to P6,000. How much is the realized gross profit recognized in the year of sale? a. 5,444 b. 5,966 c. 5,333 d. 6,667 10. Demolish Co. uses the "cost recovery method" (traditional accounting based on old US GAAP). The records of Demolish Co, show the following information: How much is the gross profit recognized by Demolish in 202 ? a. 0 b. 5,000 c. 3,000 d. 2,000