January 3, 1990 Anderson Company sells a house with a cost of $700,000,000 for sale at $1,000,000,000 at 10% interest per year.  installments are made every semester for 5 years (10x installments) and 20% down payment calculated from the declining balance.  Journalize all transactions in which gross profit is recognized in proportion to the collection per cash.

Answer rating: 100% (QA)

Journal Entries in the books of Anderson Compan... View the full answer