2 Installment salesThe installment method of accounting normally implies the deferral of gross profit but the recognition of selling and administrative expenses in the period of their incurrence.
3 Sale of Real estate on Installment basis Recognition of profit in period of saleRecognition of profit periodically in Proportion to collections.
4 Recognition Profit in period of sale Pada saat Real estate dijual:Receivable from …XXXReal estate XXXGain on sale XXXPada saat terima uang mukaCash XXXMortgage Note XXXReceivable from … XXX
5 Recognition of Profit in Period of sale Pada saat bayar Biaya2 PenjualanSelling expenses XXXCash XXXTo adjust accounts for Accrued Interest.Accrued Interest on Mortgage XXXInterest Income XX
6 Recogniton of profit in period of sale Menutup Nominal AccountsGain on sale XXXInterest Income XXXSelling expenses XXXIncome Summary XXX
7 Recognition of Profit periodically in Proportion to collections Pada saal jual Real Estate:Receivable from… XXXReal Estate XXXDeferred Gross ProfitXXXPada saat terima Down Payment:Cash XXXMortgage Note XXXReceivable from… XXX
8 Recognition of Profit periodically in Proportion to collections Membayar biaya2 penjualan:Selling expenses XXXCash XXXTo adjust accounts for Accrued Interest.Accrued Interest on Mortgage XXXInterest Income XX
9 Recognition of Profit periodically in Proportion to collections Pengakuan Laba kotor:Deferred Gross Profit XXXRealized Gross Profit XXXMenutup Nominal Accounts:Realized GP XXXInterest Income XXXSelling expenses XXXIncome Summary XXX
10 Sale of merchandise on installment basis Penjualan anggsuran:Installment contract Receivable XXInstallment sales XXSaat terima tagihan:Cash XXXInstallment contract Receiv. XXXTo adjust and closing:Cost installment sales XXXShipment on installment sales XXX
11 Sale of merchandise on installment basis To close installment sales and cost of installment sales:Installment sales XXXCost of installment sales XXXDeferred GP XXXPengakuan GP setelah ada collectionDeferred GP XXXRealized GP XXX
12 Trade-InsThe value of trade-in and the amount of the overallowance are calculated as follows:Amount allowed on trade-in XXValue of article traded in:Sale value of article XXLess:Reconditioning cost XXGP to be realized XX XX XXOverallowance XX
13 Trade-Ins Merchandise –Trade-ins XXX Overallowance on Inst.Sale XXX Installment Contracts Rec. XXXInsatllment sales XXCost of installment sales XXXMerchandise-New XX
14 Defaults and Repossession Merchandise –Repossession XXXDeferred GP XXXLoss on Repossessions XXXInstallment contrat Rec. XX
15 Interest on installment Contracts Periodic interest on balance of principal owed between installmentsPeriodic interest on installment dueEqual periodic payments that represent interest and principalPeriodic interest computed on original principal.