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Schuss collected 10000 in 2010 5000 in 2011 and 5000 in

1. Schuss Corporation sold equipment to Potsdam Company for $20,000. The equipment is on Schuss's books at a net amount of $13,000. Schuss collected $10,000 in 2010, $5,000 in 2011, and $5,000 in 2012. If Schuss uses the cost-recovery method, what amount of gross profit will be recognized in each year?

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Accounting Basics: Schuss collected 10000 in 2010 5000 in 2011 and 5000 in

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Accounting Basics: Schuss collected 10000 in 2010 5000 in 2011 and 5000 in

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