Schuss Corporation sold equipment to Potsdam Company for $29,000. The equipment is on Schuss's books at a net amount of $14,500. Schuss collected $10,800 in 2014, $5,100 in 2015, and $13,100 in 2016.
If Schuss uses the cost-recovery method, what amount of gross profit will be recognized in each year?
|
Year
|
|
Gross Profit
|
| 2014 |
|
$
|
| 2015 |
|
$
|
| 2016 |
|
$
|