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What was the total amount of sales on installment basis

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Question - Jane Enterprises uses the installment method of accounting and it has the following data at the year-end:

Gross margin on cost 66-2/3%

Unrealized gross profit P192,000

Cash collections including down payments 360,000

What was the total amount of sales on installment basis?

a. 480,000

c. 648,000

b. 552,000

d. 840,000

Reference no: EM132597535

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