Question: Sarah Incorporated uses the installment method. Date relating to the three years of operations were as follows: 2019 2020 2021 cost of installment sales 5,450,500

Sarah Incorporated uses the installment method. Date relating to the three years of operations were as follows:

2019 2020 2021
cost of installment sales 5,450,500 6,500.450 7,225,560
gross profit rate 20% based on sale 25% based on sale 30% based on cost
Deferred gross profit balance after adjusting entries:
2019 sales 1,350,800 975,000 435,600
2020 sales -- 2,000,750 1,875,455
-- 2,201,658

1. How much was the total collection in 2021?

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