Xz concludet its first year of operations in which it made

Reference no: EM13598898

XZ concludet its first year of operations in which it made sales of $800.000, all in installment.Collections during the year from down payments and installments totaled $300.000.Purchases for the year totaled $400.000; the cost of mechandise on hand at the end of the year was $80.000

Using the installment - sales mothod , make summary entries to record:
1. The installment sales and cash collections
2. The cost of installment sales
3. The unrealized gross profit
4. The realized gross profit

Please if you can provide some details will be great.Thank you

Reference no: EM13598898

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