Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The

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Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2012 and 2013.

Instructions
  (a) Compute the amount of realized gross profit recognized in each year.
  (b) Prepare all journal entries required in 2013.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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