Psychology homework help

Gordeeva Corporation began selling goods on the installment basis on January 1, 2012. During 2012, Gordeeva had installment sales of $165,000; cash collections of $61,300; cost of installment sales of $110,550.Prepare the company’s entries to record 1) installment sales, 2) cash collected, 3) cost of installment sales, 4) deferral of gross profit, and 5) gross profit recognized, using the installment-sales methodNumber account title and explanationsCreditCreditCreditCreditCredit
 
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