January 1, 2008, Amman Co. sold equipment and the financial data related to the le were as follows, Sales price Equipment B.v. 50,000 20,000 Gross profit 30,000 Down payment received on January 1 was 5,000 The contract provides for 4 consecutive payments of 14,196 to be received in bllection of notes receivable on December 31. The interest rate of 10% is considered The company's fiscal year-end is December, 31. ppropriate. pstructions: Prepare cost recovery schedule and journal entries relating to the sale ased on the cost recovery method