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How much is the realized gross profit for 20x6? *

How much is the realized gross profit for 20x6? *

FINANCIAL ACCOUNTING
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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NO.24

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
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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