Garden Co. uses the installment sales method. Garden Co. sells a good costing ₱10,000 for an installment sale price of ₱16,000. Garden Co. accepts old merchandise as downpayment and gives the customer...

Garden Co. uses the installment sales method. Garden Co. sells a good costing ₱10,000 for an installment sale price of ₱16,000. Garden Co. accepts old merchandise as downpayment and gives the customer a trade-in value of ₱4,000 for this merchandise. The fair value of the old merchandise is ₱6,000. Subsequent cash collections during the period amount to ₱6,000.

How much is the realized gross profit recognized in the
year of sale?