Taft Corporation, which began business on January 1, 2014, appropriately uses the installment sales method of accounting. The following data are available for December 31, 2014 and 2015:

Required:
The Installment accounts receivable balances at December 31, 2014 and 2015 would be howmuch?

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2014 2015 Balance of deferred gross profit on sales on account for: 2014 2015 $120,000 440,000 S300,000 Gross profit on sales 30% 40%