A company uses the installment method of reporting. The following data were gathered for its three years of operation: (see pic). In 2019, a customer defaulted,; accordingly, the merchandise with an estimated value of 15,000 was repossessed. The sale was made in 2017 and the unpaid balance on the date of repossession was 22.500. What is the gain or loss on repossession 2019? What is the total realized gross profit in 2019?

A company uses the installment method of reporting. The following data were gathered for its three years of operations: 201? 2018 2019 Installment sales 300.000 405.000 495.000 Cost of installment sales 210.000 243.000 321.750 Gross prot rate 30% 40% 35% Balance of installment receivable, Dec.31: 2017 installment 180.000 135,000 60,000 2018 installment 300.000 195.000 2019 installment 390,000 In 2019, a customer detaulted; accordingly. the merchandise with an estimated value of P15,000 was repossessed. The sale was made in 201? and the unpaid balance on the date or repossession was P22,500. What is the gain or (loss) on repossession 2019