What amount would be shown in the december

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Reference no: EM13135137

during 2008, steele corporation sold merchandise costing $1,500,000 on an installment basis for $2,000. the cash receipts related to these sales were collected as follows: 2008, $800,000; 2009, $700000; 2010; $500,0000. what amount would be shown in the december 31, 2009 financial statement for realized gross profit on 2008 installment sales, and deferred gross profit on 2008 installment sales, respectively?

Reference no: EM13135137

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