11 (2 points) Saved Gross Profit equals: A) Sales - Sales Returns and Allowances - Sales Discounts - Cost of Goods Sold. B) Cost of Goods Sold - Operating Expenses. C) Net sales - Net Purchases. D) Cost of Goods Sold - Other Expenses. Question 14 (2 points) Saved What is the name of the revenue account used by merchandise companies? A) Interest Income B) Sales Discount C) Merchandise Inventory D) Sales 27 30 Question 21 (2 points) John bought goods for $390 on credit. John returned $30 worth of goods. Terms of the sale were 5/10, n/30. If John pays the amount owed within the discount period, what is the amount they should pay? (Round intermediary and final calculations to the nearest whole dollar.) A) $378 B) $342 C) $360 D) $390 Question 5 (2 points) Monica's Closet received payment in full within the discount period for goods sold on a $1,000 sales invoice, terms 2/10, n/30, Which entry records this payment? (Round your calculations to the nearest whole dollar.) A) Debit Cash $980, debit Sales Discount $20; credit Accounts Receivable $1,000 B) Debit Accounts Receivable $1,000; credit Sales $1,000 C) Debit Cash $980, debit Sales Discount $20; credit Sales $1,000 D) Debit Cash $1,000; credit Accounts Receivable $1,000