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How much is the initial payments

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Question - Amber sold her personal property in 2019, with details as follows:

Cost 600,000

Mortgage assumed by the buyer 350,000

Installment collection schedule:

2019 200,000

2020 200,000

2021 80,000

1. How much is the selling price?

2. How much is the contract price?

3. How much is the initial payments?

4. How much is the realized gross profit for 2018?

5. How much is the realized gross profit for 2019?

6. How much is the realized gross profit for 2020?

Reference no: EM133109590

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