INSTALLMENT SALES Updated
INSTALLMENT SALES Updated
PROBLEM 1
2019 2020
Sales 1, 000, 000 2, 000, 000
Collections (500, 000) (500, 000)
(300, 000) _____________
200, 000 1, 500, 000 = 1, 700, 000
PROBLEM 6
Sales 900, 000
Cash Paid (150, 000)
Installment (250, 000)
Balance 500, 000
X 30%
DGP 150, 000
PROBLEM 7
Installment A/R Beginning 755, 000
Installment Sales 950, 000
Installment A/R, ending (840, 000)
Collection 865, 000
X 45%
Realized gross profit 389, 250
PROBLEM 8
2020 2019
425, 000 120, 000
(200, 000) (15, 000)
(7, 200)
225, 000 97, 800
X 38% x 45%
RGP 85, 500 44, 010 129, 510
PROBLEM 14