A, a real estate dealer sold a house and lot for 600,000 on November 20, 2021. The cost of the property is 375,000. Terms are: a) Down payment of 100,000 and b) Balance payable in monthly installments of 25,000 beginning December 20, 2021. The income to be reported in 2021 is *

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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A. a real estate dealer sold a house and lot for 600,000 on November 20, 2021. The cost of the
property is 375,000.
Terms are: a) Down payment of 100,000 and b) Balance payable in monthly installments of 25,000
beginning December 20, 2021.
The income to be reported in 2021 is *
225,000
O 125,000
O 46,875
O 37,500
Transcribed Image Text:A. a real estate dealer sold a house and lot for 600,000 on November 20, 2021. The cost of the property is 375,000. Terms are: a) Down payment of 100,000 and b) Balance payable in monthly installments of 25,000 beginning December 20, 2021. The income to be reported in 2021 is * 225,000 O 125,000 O 46,875 O 37,500
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