What is the gross margin of april

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Question: Stardust Furniture Store sells low end furniture and uses the installment method for revenue recognition. Its year-end is December 31. It shows the following data for January: Sales of $9,360 with a 50% markup. Sales terms: No down payment in January, no interest and 6 easy monthly payments starting in February.

Required 1: Assuming no other transaction happened. what revenue is recognized in January? $

Required 2: Assuming no other transaction happened. what revenue is recognized in February? $

Required 3: Assuming no other transaction happened, what cost of goods sold is recognized in March? $

Required 4: Assuming no other transaction happened, what is the Gross Margin of April? $

Reference no: EM133337253

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