5. If the equipment was sold for a price of $100,000 rather than $400,000, how...
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5. If the equipment was sold for a price of $100,000 rather than $400,000, how much loss would be recognized in Year 2? here is info: Gross profit : $150,000 Gross profit %: 0.38% 
In Year 1 ABC Company sells equipment to XYZ Company for $400,000 in an installment sale. ABC Company has a basis in the equipment of $250,000. In Year 1 ABC company will receive three payments totaling $300,000 and in year 2 the final payment totaling $100,000
5. If the equipment was sold for a price of $100,000 rather than $400,000, how much loss would be recognized in Year 2?
here is info:
Gross profit : $150,000
Gross profit %: 0.38%
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