Triple A Company sold cellphones on installment basis on July 1, 2020. The unit cost to the company was P388,800, but the installment selling price was set at P550,800. Terms of payment included the...

How much is the total realized gross profit in 2020?

How much is the monthly payment?

How much is the under (over) allowance in trade in?

Extracted text: Triple A Company sold cellphones on installment basis on July 1, 2020. The unit cost to the company was P388,800, but the installment selling price was set at P550,800. Terms of payment included the acceptance of used cellphones with trade in allowance of P194,400. Cash of P32,400 was paid in addition to the traded in cellphone with the balance to be paid in ten monthly installments due at the end of each month commencing the month after the month of sale. It would require PS,100 to recondition the used cellphones so that it could be resold at P162,000. A 15% gross profit was usual from the sale of used cellphones.