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muestion 21 On April 7, 2016, the Toy Corporation sold inventory to the Penny Corporation for 5600,000, terms of the sale called for a down

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muestion 21 On April 7, 2016, the Toy Corporation sold inventory to the Penny Corporation for 5600,000, terms of the sale called for a down payment of $150.000 and the names of $150.000 de each April 1, beginning April 7, 2017. Each installment will also include interest on the paid balance applying an appropriate interest. The sectory cost Toy 5110,000. The company uses a perpetual inventory system How much is the realized gross profit in 2016 applying the profit deferral method (cost recovery method)

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