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Question - Green Company, which began operation on January 1, 1990, appropriately uses the installment method of accounting. The following information is available for 1990:
Gross profit on sales 40%
Deferred gross profit at 12/31/90 $240,000
Cash collected, including down payments 450,000
What is the total amound of Green's installment sales for 1990?
a. $600,000
b. $690,000
c. $850,000
d. $1,050,000
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