When using the installment sales method,
A) gross profit is deferred until all cash is received, but revenues and costs are recognized in proportion to the cash collected from the sale.
B) gross profit is recognized only after the amount of cash collected exceeds the cost of the item sold.
C) revenue, costs, and gross profit are recognized proportionally as the cash is received from the sale of product.
D) total revenues and costs are recognized at the point of sale, but gross profit is deferred in proportion to the cash that is uncollected from the sale.

Question

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The Answer of When using the installment sales method,
A) gross profit is deferred until all cash is received, but revenues and costs are recognized in proportion to the cash collected from the sale.
B) gross profit is recognized only after the amount of cash collected exceeds the cost of the item sold.
C) revenue, costs, and gross profit are recognized proportionally as the cash is received from the sale of product.
D) total revenues and costs are recognized at the point of sale, but gross profit is deferred in proportion to the cash that is uncollected from the sale.

When Using the Installment Sales Method