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Post Meridian (PM) Co. uses the installment sales method. PM Co. sells new merchandise costing Php 10,000 to a customer for Php 16.000. PM
Post Meridian (PM) Co. uses the "installment sales method." PM Co. sells new merchandise costing Php 10,000 to a customer for Php 16.000. PM Co. accepts old merchandise with fair value of Php 3,000 as traded-in and gives the customer a trade-in value of Php 4.000. PM Co. subsequently collects Php 6,000 from the customer. How much is the realized gross profit in the year of sale?
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
