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On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 cash on January 1, 2012, and signed a $900,000 note bearing interest at 10%. The note was payable in three annual installments of $300,000 beginning January 1, 2013. Bartell appropriately accounted for the sale under the installment method. Cooper made a timely payment of the first installment on January 1, 2013, of $390,000, which included interest of $90,000 to date of payment. At December 31, 2013, Bartell had deferred gross profit of: I know the answer is 180,000. At first I was under the impression it was because the company was making 90,000 interest gross profit time 2 to make it equal 180,000, but that does not seem correct. Any guidance would be greatly appreciated.
Q. External users of accounting information? The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers
HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 words accepted#
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
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