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5. On August 1, YR01, Publisher Inc. sold and delivered books to Amazon. Given Amazon's credit history, Publisher en collect all amounts owed in 30

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5. On August 1, YR01, Publisher Inc. sold and delivered books to Amazon. Given Amazon's credit history, Publisher en collect all amounts owed in 30 days. The retail value of the books is S100, and the cost basis is $60,.Tcts to includes a right of return for a two year period and, based on prior experience, Publisher expects that 10% of the books will be sale transaction returned in YR01 and another 5% will be returned in YR02. For YR01, how much gross profit will Publisher record? b. $36 c. $38 d. $40 e. None of the above. a. $34

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