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Thank you in Advance :) '1. ABC Co. has the following information: 20x1 20x2 Installment sales ? '1' Cost of sales 600.000 660.000 Installment receivable

Thank you in Advance :)
'1. ABC Co. has the following information: 20x1 20x2 Installment sales ? '1' Cost of sales 600.000 660.000 Installment receivable - 20x1 600,000 400,000 Installment receivable - 20x2 720,000 Gross profit rates based on sales 40% 45% How much is the total realized gross prot in 20x2? 2. ABC Co.'s records show the following information: 20x1 20x2 Deferred gross profit (adjusted ending balances): 'om 20x1 sale 240.000 160.000 from 20x2 sale 324,000 Gross profit rates based on sales 40% 45% Cash collections from: 20x1 sales 400.000 200.000 20x2 sales 430,000 How much is the total installment receivable on December 31, 20x2

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