What the total amount of maginhawa installment sales was

Reference no: EM132703543

The Maginhawa Co. which began operation on January 1, 2020 uses the installment method of accounting. The following information is available for 2020.

Cash collected, including down payments P962,425

Deferred gross profit at December 31, 2020 465,520

Gross profit on sales 35%

Problem 1: What the total amount of Maginhawa's installment sales for 2020 was?

Reference no: EM132703543

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