Installment Sales; The following information pertain to problems a$2$ & #$3$:

A machine was sald to Barbara Hurley for $$24,300,$ ncluding a $30,$ markup on seling price. Barbare made A down payment of $40\%,$ four of the remaining $16$ equal paymems, and then defauled on further payments. The mathine was repossessed, at which time thw fair value was determined to be $$10,800$

Problem $2$

Compute the amount of the Instalment Accounts receivable Balance at the date of default:

Problem $3$

Prepare the juurnal entry to record the reposyession: