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Business, 18.08.2019 01:10 swaggsuperman713

On january 2, 20x1, blake co. sold a used machine to cooper, inc., for $900,000, resulting in a gain of $270,000. on that date, cooper paid $150,000 cash and signed a $750,000 note bearing interest at 10%. the note was payable in three annual installments of $250,000 beginning january 2, 20x2. blake appropriately accounted for the sale under the installment method. cooper made a timely payment of the first installment on january 2, 20x2, of $325,000 which included accrued interest of $75,000. what amount of deferred gross profit should blake report on december 31, 20x2? a. $150,000b. $172,500c. $180,000d. $225,000

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On january 2, 20x1, blake co. sold a used machine to cooper, inc., for $900,000, resulting in a gain...

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