Determine the gross profit margin for each year.

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Chapter 8.A, Problem 13E

a.

To determine

Determine the gross profit margin for each year.

b.

To determine

Prepare journal entry for 2015 and 2016.

c.

To determine

Determine the balance of deferred gross profit by year for the year ended December 31, 2016 and also show T accounts for 2015 and 2016.

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