How much is the realized gross profit for 20x6? *
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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NO.24
Transcribed Image Text:24. The B computer store stared its operation in January 1, 20x6. During the
year, it had cashsales of P6,875,000 and installment sales of P16,500,000.
B imposes a mark up on cost of25% for cash sales and 50% for installment
sales. During 20xó installment receivablebalance amounted to P6,600,000.
How much is the realized gross profit for 20x6? *
O A. 2,200,000
B. 3,575,000
O c. 3,300,000
D. 4,675,000
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