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Diamante Motors sells locally manufactured jeeps on installments. Information presented below relates to Diamante's operations for the last three calendar years. Cost of installment
Diamante Motors sells locally manufactured jeeps on installments. Information presented below relates to Diamante's operations for the last three calendar years. Cost of installment sales Gross profit on installment sales 2015 P8,765,625 32% 2014 P7,700,000 30% 2013 P4,950,000 28% Outstanding installment rec'l, Dec. 31: From 2015 From 2014 P9,728, 125 3,025,000 P8,387,500 From 2013 1,512,500 P4,812,500 Diamante Motors uses the installment method of accounting. How much is the total realized gross profit for calendar year 2015?
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