Helen sold the property for 375000 with 75000 due on the, Ask an Expert

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In 2009, Helen sold property and reported her gain by the installment method. Her basis in the property was $150,000 ($250,000 cost less $100,000 of depreciation). Helen sold the property for $375,000, with $75,000 due on the date of the sale and $300,000 (plus interest at the federal rate) due in 2010. what is Helen's recognized installment sale gain in 2010 ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954680

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