Samuel Co appropriately uses the instalment sales method of accounting. On December 31,2016 the book shows balance as follows
Instalment Receivables Deferred Gross Profit Gross Profit on Sales
2014 14600 7300 30%
2015 41600 25700 34%
2016 88700 61100 31%
Prepare adjusting entry required Dec 31, 2016 to recognize 2016 realized Gross Profit