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 How much was the total collection in 2021

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

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

How much was the total collection in 2021?

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