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Abbey Co. sold merchandise to Gomez Co. on account, $33,100, terms 2/15, net 45. The cost of the goods sold was $13,712. Abbey Co.
Abbey Co. sold merchandise to Gomez Co. on account, $33,100, terms 2/15, net 45. The cost of the goods sold was $13,712. Abbey Co. issued a credit memo for $4,000 for merchandise returned that originally cost $1,204. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? $16010 $19,930 $4,000 $12.508 G
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