(Installment-Sales Method Calculations, Entries) Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income…

(Installment-Sales Method Calculations, Entries)Coffin Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2010 and 2011. 2010 2011(a) Compute the amount of realized gross profit recognized in each year. 2010 2011 Realized gross profit recognized $ $ (b) Prepare all journal entries required in 2011. Description/Account Debit Credit

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