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MAGIGING CPA AKO Co. uses the installment method. MAGIGING CPA AKO Co.'s records show the following balances: Installment Receivables - Jan. 1, 2020 0 Installment
MAGIGING CPA AKO Co. uses the installment method. MAGIGING CPA AKO Co.'s records show the following balances:
- Installment Receivables - Jan. 1, 2020 0
- Installment Sales 1,000,000
- Cost of Sales 800,000
- Installment Receivables - Dec. 31, 2020 600,000
- How much is the realized gross profit for the year 2020?
- How much is the deferred gross profit on December 31,2020?
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Financial Accounting Tools For Business Decision-Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Canadian Edition
0470833378, 978-0470833377
