1.- Etcetera Clothing sold merchandise inventory on account at a price of $24,000 with payment terms of 2/10, n/30. The merchandise cost Etcetera Clothing $20,000. If the customer paid for the merchandise 5 days after receiving the invoice, how much cash was collected by Etcetera Clothing?

A) $20,000

B) $23,520

C) $19,600

D) $24,000

2.- A company has gross profit of $60,000 and a gross profit percentage of 30%. What were the company's net sales?

A) $200,000.

B) $18,000.

C) $78,000.

D) $882,510.