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13. Sanford and Son sells athletic equipment. The following events, related to a special customer order, occur as described below September 1, 2019: Sanford receives
13. Sanford and Son sells athletic equipment. The following events, related to a special customer order, occur as described below September 1, 2019: Sanford receives the special order for 300 football helmets at a selling price of $100 each, including delivery at a future convenient time and location. The customer, with whom Sanford has had a long-term, trouble-free relationship, pays $5,000 as a deposit, and agrees to pay the rest on delivery Sanford immediately orders $20,000 worth of helmets from its supplier and pays a $5,000 deposit for them September 20, 2019 Sanford pays a $15,000 balance due to the supplier upon delivery of the helmets to its warehouse October 1, 2019 The customer calls for delivery of the helmets and pays the balance of $25,000 when they arrive at the customer site. What is the gross margin that Sanford earned on the order? $10,000 $20,000 $25,000 $30.000
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