Question: 0 Saved Help Save & Exit On December 15, 2021. Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately

0 Saved Help Save & Exit On December 15, 2021. Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $410,000 with the balance in two equal annual installments payable on December 15, 2022, arid December 15, 2023. Ignore interest charges. Rigsby has a December 31 year-end. In 2021, Rigsby would recognize realized gross profit of Multiple Choice $1.300.000 $106.600. 50 $410.000 0 Saved Help Save & Exit On December 15, 2021. Rigsby Sales

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