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can you explain how we got those 2 answers please in detail with calculations and definitions Use the following information for the next two questions.

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can you explain how we got those 2 answers please in detail with calculations and definitions

Use the following information for the next two questions. Blamo Inc. uses the installment-sales method to account for its installment sales. Below you will find data regarding installment sales and collections on those sales for 2012,2013 , and 2014. 8. Under the installment-sales method, how much gross profit should be recognized in 2014 ? a. $1,064 b. $1,017 c. $1,026 d. $1,000 9. Assuming no repossessions have occurred, what is the balance in the account, Deferred Gross Profit (2012), as of 12/31/2014? a. $250 b. $100 c. $95 d. $400

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