Installment Sales Flashcards by Cici Smith | Brainscape

Q

Jpurnal entries

A

Installment A/R
Installment sales

Cash
Installment A/R

Installment C/S
Inventory

To close:

Installment Sales
C/S
Deferred Gross Profit

Deferred Gross Profit
Realized GP

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Q

Balance Sheet presentation

A

Installment A/R
Less: Deferred Gross Profit

DGP is a contra A/R account

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