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Question 4 20 points Save Meera & Co uses the installment-sales method of accounting to recognize income in its financial statements. The following information is

Question 4 20 points Save Meera & Co uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2016 and 2017. 2016 2017 Installment sales AED 900,000 540,000 Cost of installment sales (inventory cost) Cash collections on 2016 sales 270,000 630,000 Required: a. Compute the amount of gross profit realized in 2016 and 2017 suming Meern & Co uses the installment-talos method. 5 marks

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