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How much is the total collection sales

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Question - SM Appliance Center uses the installment-method of accounting its sales. Pertinent data from the company's records show the following information:

2019 2020 2021

Installment Sales 750,000 937,500 900,000

Cost of Installment Sales 562,500 712,500 630,000

Deferred Gross Profit

From 2019 Sales 141,250 45,000

From 2020 Sales 150,000 30,000

From 2021 Sales 195,000

Answer the following:

1. How much is the Gross Profit Margin for 2019, 2020, 2021?

2. How much is the Realized Gross Profit for 2019 Sales, 2020 Sales, and 2021 Sales?

3. How much is the total collection for 2019 sales, 2020 sales, and 2021 sales?

Reference no: EM132980489

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