Category:
Sales
These data pertain to installment sales of Mickey’s Store: Downpayment, 20% Installment sales: P545,000 in Year 1; P785,000 in Year 2; and P968,000 in Year 3 Mark-up on cost, 35% Collections after down payment: 40% in the year of sale, 35% in the year after sale, and 25% in the third year. 29. The realized gross profit in Year 1 is: