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Abbey Co . sold merchandise to Gomez Co . on account, $ 1 1 , 1 0 0 , terms n 4 5 . The

Abbey Co. sold merchandise to Gomez Co. on account, $11,100, terms n45. The cost of the goods sold was $7,770. Abbey Co. issued a credit memo to Gomez Co. for $2,100 for merchandise returned that originally cost $1,500. Gomez Co. paid the invoice within the credit period. What amount of gross profit is earned by Abbey Co. on these transactions? $
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