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Johnson Enterprises uses the cost recovery method for all installment sales. Complete the following table: 2006 2007 2008 Installment sales 80,000 95,000 ? Cost of

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Johnson Enterprises uses the cost recovery method for all installment sales. Complete the following table: 2006 2007 2008 Installment sales 80,000 95,000 ? Cost of installment sales ? 56,050 68,250 Gross profit percentage 38% ? 35% Cash collections 2006 sales 25,600 46,400 5,600 2007 sales 22,800 ? 2008 sales 32,550 Realized gross profit on installment sales ? ? 16,050 20. Installment sales in 2008? 21. Cost of installment sales in 2006? 22. Cost of installment sales in 2007? 23. Collection in 2008 for 2007 sales? 24. Realized gross profit on installment sales in 2006? 25. Realized gross profit on installment sales in 2007

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