Daze Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 20x1 and 20x2.

20x120x2Installment sales$800,000 $1,000,000 Cost of installment sales480,000 650,000 Cash collections on sales of 20x1300,000 500,000 Cash collections on sales of 20x2-0- 400,000

Compute the amount of realized gross profit recognized in each year. 20x120x2