Question
In January, 2020, Perty Inc. sells an inventory item for $1,000,000 The cost of the item is: $304,000 There is a down payment in 2020
In January, 2020, Perty Inc. sells an inventory item for $1,000,000 The cost of the item is: $304,000 There is a down payment in 2020 of: 40% 3 annual payments are made in the years 2021, 2022, and 2023 of: 20% Indicate the amount of the reserve that can be deducted, if any, and the net income, for each of the years 2020 through 2023.
please show calculation
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
