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Abbey Co. sold merchandise to Gomez Co, on account, $30,200, terms 2/15, net 45. The cost of the goods sold was $14,648. Abbey Co,
Abbey Co. sold merchandise to Gomez Co, on account, $30,200, terms 2/15, net 45. The cost of the goods sold was $14,648. Abbey Co, Issued a credit memo for $3,600 for merchandise returned that originally cost $1,369. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? $3,600 513279 $12.789 516317
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