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What the repossession results

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Question 1: Singer company sells plasma-screen televisions on an installment basis and appropriately uses the installment-sales method of accounting. a customer with an account balance of Br. 5,600 refuses to make any more payments and the merchandise is repossessed. The gross profit rate on the original sale is 40%. singer estimates that the television can be sold for Br 1,750. The repossession results

Reference no: EM132591598

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