Cantor Company Sold $400,000 to Customers on Account During 2014,and

question 25

Multiple Choice

Cantor Company sold $400,000 to customers on account during 2014,and collected $200,000 during the year.The company properly uses the installment sales method of revenue recognition due to the uncertainty of collection of these installment receivables.The company has determined that cost of sales for the $400,000 of sales was $340,000. What is the correct balance of the company's Deferred Gross Profit account at the end of 2014,after the recognition of revenue for that year?

• A) $0
• B) $30,000
• C) $60,000
• D) $140,000

Recognize the environmental impact of human constructions on waterborne diseases.

Comprehend the methods and principles of groundwater replenishment.

Analyze the implications of water pricing and policy on conservation efforts.

Understand the concepts and techniques of artificial water application to land.

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Definitions:

Demographic

Statistical data relating to the population and particular groups within it, used for marketing, policy making, and social studies.