Number 16, 17 and 18 Following data were taken from the books of Makati Co. for 2021 2020 P800,000 480,000 2021 P900,000 600,000 250,000 300,000 360,000 Installment sales Cost of installment sales Collections: 2020 installment contracts 2021 installment contracts Defaults and repossessions Uncollected balance of prior year's installment contract defaulted Value assigned to repossessed merchandise Assume perpetual inventory accounts were not maintained. 12,000 15,000 7,000 8,000 16. The realized gross profit on 2020 installment sales during 2021 amounted to 17. The gain (loss) on repossession on defaulted 2021 contracts was 18. The unrealized gross profit on the 2020 installment sales as of December 31, 2021 was Number 16, 17 and 18 Following data were taken from the books of Makati Co. for 2021 2020 P800,000 480,000 2021 P900,000 600,000 250,000 300,000 360,000 Installment sales Cost of installment sales Collections: 2020 installment contracts 2021 installment contracts Defaults and repossessions Uncollected balance of prior year's installment contract defaulted Value assigned to repossessed merchandise Assume perpetual inventory accounts were not maintained. 12,000 15,000 7,000 8,000 16. The realized gross profit on 2020 installment sales during 2021 amounted to 17. The gain (loss) on repossession on defaulted 2021 contracts was 18. The unrealized gross profit on the 2020 installment sales as of December 31, 2021 was