Dalol Company, which began operations on January 2, Year 4, appropriately uses the installment method of accounting.
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- Dalol Company, which began operations on January 2, Year 4, appropriately uses the installment method of accounting. The following information is available for the year ended December 31, Year 4.
Gross profit on sales……………………………….……….40%
Deferred gross profit, Dec. 31, Year 4………………….Br. 240,000
Cash collected, including down payments…………………450,000
What is the total amount of Dalol’s installment sales for the year ended December 31, Year 4?
- Br. 600,000 C. Br. 850,000
- Br. 690,000 D. Br. 1,050,000 E. Some other amount
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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