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Calculate the amount that Marg Antiques can deduct

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Question - On November 30, 2020, Marg's Antiques sold a mint condition vintage stove for $85,353. The company paid $40,526 for the stove at an auction. The buyer has agreed to pay for the stove in 4 instalments every December 31 in 2021, 2022, 2023 and 2024. Calculate the amount that Marg's Antiques can deduct as a reserve for unpaid amounts in 2022.

Reference no: EM133045874

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