Use the following information for questions:
A corporation sold a tract of land for $525,000 that had originally cost $350,000.The buyer will make three annual payments of: $250,000; $125,000; and $150,000.Ignore interest and use the instalment method.
-The unrecognized profit at the end of year two amounts to:
A)$0
B)$50,000
C)$91,667
D)$175,000

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The Answer of Use the following information for questions:
A corporation sold a tract of land for $525,000 that had originally cost $350,000.The buyer will make three annual payments of: $250,000; $125,000; and $150,000.Ignore interest and use the instalment method.
-The unrecognized profit at the end of year two amounts to:
A)$0
B)$50,000
C)$91,667
D)$175,000

Use the Following Information for Questions