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    bekanmom Posts: 5, Reputation: 1
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    Oct 24, 2010, 03:07 PM
    Accounting
    Refer to the following data for Joe's Appliance Center. The business records revenue using the installment sales method.

    Year 1 Year 2
    Sales $200,000 $250,000
    Cost of Goods Sold 140,000 162,500
    Cash Collections from
    Year 1 Sales: 100,000 80,000
    Year 2 Sales: 130,000

    How much realized gross profit on installment sales will the business record in Year 2?

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