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Business, 30.03.2020 19:32 jmullins3611

Stacey is a dealer of personal properties who regularly sells under the installment plan, sold in 2009 for P120,000 an article acquired at P80,000, receiving P24,000 in the same year, with the unpaid balance in four equal annual installments. From this transaction, Stacey shall be subject to a taxable income of P8,000 per year starting 2009 until 2013.

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