13

14

A company's net sales were $746,100. Its cost of goods sold was $246,960 and its net Income was $72,300. Its gross margin ratio equals: A company purchased $3,000 of merchandise on July 5 with terms 2/10,n/30. On July 7, it returned $330 worth of merchandise. On July 8, It paid the full amount due. The amount of the cash pald on July 8 equals: Multiple Choice O $330 O $2.610 O $2.617. O $2.670 O $3.000