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Stardust Furniture Store sells "low end" furniture and uses the installment method for revenue recognition....

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Accounting

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Stardust Furniture Store sells "low end" furniture and uses the installment method for revenue recognition. Its year-end is December 31. It shows the following data for January: Sales of $3,150 with a 50% markup. Sales terms: No down payment in January, no interest and 6 easy monthly payments starting in February. Required 1: Assuming no other transaction happened, what revenue is recognized in January? \$ Required 2: Assuming no other transaction happened, what revenue is recognized in February? \$ Required 3: Assuming no other transaction happened, what cost of goods sold is recognized in March? \$ Required 4: Assuming no other transaction happened, what is the Gross Margin of April? \$

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