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Find what is the collections during the year

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Problem 1: KCP Inc. sells cellphones on an installment basis. For the year ended December 31, 2016, the following were reported: Cost of installment sales P 1,050,000 Loss on repossessions 27,000 Fair value of repossessed merchandise 225,000 Account defaulted 360,000 Deferred Gross Profit, December 31 Adjusted 216,000 What is the collections during the year?

Reference no: EM132669633

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