(Answered) Question - during 2010 martin corporation sold merchandise

Accounting

Question - During 2010, Martin Corporation sold merchandise costing $2,100,000 on an installment basis for $3,000,000. The cash receipts related to these sales were collected as follows: 2010, $1,200,000; 2011, $1,050,000; 2012, $750,000.

If expenses, other than the cost of the merchandise sold, related to the 2010 installment sales amounted to $120,000, by what amount would Martin's net income for 2010 increase as a result of installment sales?

$240,000

$360,000

$1,080,000

$270,000

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