answer with complete solution pls 9-17: The books of Concepcion, Inc. show the following balances on December 31,2013:Accounts ReceivableDeferred Gross Profit (before adjustment)Analysis and aging of the accounts receivable reveal the following:Regular Accounts2012 installment accounts2013 installment accountsP627,50076,000a. P23,500b. P52,500c. P45,000d. P69,750P415,00032,500180,000Sales on an installment basis in 2012 were made at 30 percent above cost, in2013, at 33 1/3 percent above cost. What is the total realized gross profit for theyear ended December 31, 2013:

The installment sales method is defined as an agreement in which the buyer is entitled to make…

Answered: answer with complete solution pls

Business

Accounting

answer with complete solution pls

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

answer with complete solution pls

9-17: The books of Concepcion, Inc. show the following balances on December 31,
2013:
Accounts Receivable
Deferred Gross Profit (before adjustment)
Analysis and aging of the accounts receivable reveal the following:
Regular Accounts
2012 installment accounts
2013 installment accounts
P627,500
76,000
a. P23,500
b. P52,500
c. P45,000
d. P69,750
P415,000
32,500
180,000
Sales on an installment basis in 2012 were made at 30 percent above cost, in
2013, at 33 1/3 percent above cost. What is the total realized gross profit for the
year ended December 31, 2013:

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