Kadita Sales sells cars on the installment basis. Presented below are the data for the past three years: 2021 2020 2019 Installment Sales 2,880,000 2,304,000 1,543,000 Cost of Sales 1,728,000 1,440,000 1,002,950 Collection on: 2021 installment sales 1,008,000 2020 installment sales 691,000 921,000 2019 installment sales 478,000 462,000 578,000 Repossessions on defaulted accounts included one made on a 2019 sale for which the unpaid balance amounted to P20,000. The depreciated value of the car repossessed was P10,000. The balance of Deferred Gross Profit related to 2019 installment sales is pesos (Supply the answer in number only with proper comma and no decimal point. Don't include Peso sign.)
Kadita Sales sells cars on the installment basis. Presented below are the data for the past three years: 2021 2020 2019 Installment Sales 2,880,000 2,304,000 1,543,000 Cost of Sales 1,728,000 1,440,000 1,002,950 Collection on: 2021 installment sales 1,008,000 2020 installment sales 691,000 921,000 2019 installment sales 478,000 462,000 578,000 Repossessions on defaulted accounts included one made on a 2019 sale for which the unpaid balance amounted to P20,000. The depreciated value of the car repossessed was P10,000. The balance of Deferred Gross Profit related to 2019 installment sales is pesos (Supply the answer in number only with proper comma and no decimal point. Don't include Peso sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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#34 ANSWER AND EXPLAIN
Transcribed Image Text:Kadita Sales sells cars on the installment basis. Presented
below are the data for the past three years:
2021
2020
2019
Installment Sales
2,880,000
2,304,000 1,543,000
Cost of Sales
1,728,000
1,440,000 1,002,950
Collection on:
2021 installment sales
1,008,000
2020 installment sales
691,000
921,000
2019 installment sales
478,000
462,000
578,000
Repossessions on defaulted accounts included one made
on a 2019 sale for which the unpaid balance amounted
to P20,000. The depreciated value of the car repossessed
was P10,000.
The balance of Deferred Gross Profit related to 2019
installment sales is
pesos
(Supply the answer in number only with proper comma
and no decimal point. Don't include Peso sign.)
Ps
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