Mojave sold her condominium for $500,000 on September 14, 2012; she had paid $330,000 for it in

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Mojave sold her condominium for $500,000 on September 14, 2012; she had paid $330,000 for it in 2004. Mojave collected the selling price as follows: 2012, $80,000; 2013, $320,000; and 2014, $100,000. Mojave appropriately uses the installment-sales method. Prepare a schedule to determine the gross profit for 2012, 2013, and 2014 from the installment sale.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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