(Answered) Problem - the following information is available for

Accounting

Problem - 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 amount of company's installment sales for 1990?

a. $600,000

b. $690,000

c. $850,000

d. $1,050,000

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