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In 2013, Amana sold 10 refrigerators that cost $825 each, for a price of $1 285 each. Payments are made in 10 equal instalments, with no down payment. During 2014, Amana collected $10 285 on the 2013 sales. Using the instalment method and assuming an interest rate of 10%, how much gross profit will Amana recognise in 2014?
Division Profits
The earnings attributed to a specific branch or department within a larger organization, reflecting its financial performance.
Profit Centers
Individual departments or units within a business that are responsible for generating their own profits.
Decision Making
The process of identifying and choosing alternatives based on the values and preferences of the decision maker.
Cost Center
A business unit or department that incurs expenses but does not directly generate revenues, typically evaluated on its cost efficiency.
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