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PC uses the installment method of income recognition. The entity provided the following pertinent data:     20x1 20x2 20x3 Installment sales P600,000 P750,000 P720,000 Cost of goods sold 450,000 570,000 504,000 Balance of deferred gross profit at year-end 20x1 105,000 30,000 - 20x2   108,000 18,000 20x3     144,000 COMPUTE Total balance of Installment Receivable on December 31, 20x3

PC uses the installment method of income recognition. The entity provided the following pertinent data:     20x1 20x2 20x3 Installment sales P600,000 P750,000 P720,000 Cost of goods sold 450,000 570,000 504,000 Balance of deferred gross profit at year-end 20x1 105,000 30,000 - 20x2   108,000 18,000 20x3     144,000 COMPUTE Total balance of Installment Receivable on December 31, 20x3

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 31BEB
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PC uses the installment method of income recognition. The entity provided the following pertinent data:

 

 

20x1

20x2

20x3

Installment sales

P600,000

P750,000

P720,000

Cost of goods sold

450,000

570,000

504,000

Balance of deferred gross profit at year-end

20x1

105,000

30,000

-

20x2

 

108,000

18,000

20x3

 

 

144,000

COMPUTE

  1. Total balance of Installment Receivable on December 31, 20x3                        

 

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