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Wolf Computer Company began operations in 2013. The company allows customers to pay in installments for many of its products. Installment sales for 2013 were
Wolf Computer Company began operations in 2013. The company allows customers to pay in installments for many of its products. Installment sales for 2013 were $1,000,000. If revenue is recognized at the point of delivery, $600,000 in gross profit would be recognized in 2013. If the company instead uses the cost recovery method, $100,000 in gross profit would be recognized in 2013. **How do I calculate the amount collected on installment sales in 2013**
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