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Abbey Co. sold merchandise to Gomez Co, on account, $30,000, terms 2/15, net 45 . The cost of the merchandise sold was $14,000. Abbey Co,

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Abbey Co. sold merchandise to Gomez Co, on account, $30,000, terms 2/15, net 45 . The cost of the merchandise sold was $14,000. Abbey Co, issued a credit memo for $2,400 for merchandise returned that originally cost $1,500. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? a. 514,548 b. 527,048 c. $2,400 d. $29,400

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