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In 2010, Sally sold a personal residence on the installment method. She needed cash in 2019, so she sold the note for $7,500 when the
In 2010, Sally sold a personal residence on the installment method. She needed cash in 2019, so she sold the note for $7,500 when the balance due her was $9,000. Her gross profit percentage was 47.5%. How much profit must Sally report on the disposition of the obligation? A. $3,225 B. $2,775 C $7,500 D.S0
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