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Abbey Co. sold merchandise to Gomez Co, on account, 532;300, terms 2/15, net 45 , The cost of the merchndise sold was 514,400 . Abbey

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Abbey Co. sold merchandise to Gomez Co, on account, 532;300, terms 2/15, net 45 , The cost of the merchndise sold was 514,400 . Abbey Co, issued a credit memo for \$2,400 for merchandise returned that originaliy cost $1,000. Gomez Co, paid the invoice within the discount period. What is the amount of gross profit earned by Abtey Co, on the above transactions? a. 515,905 b. $31,654 C. 529,302 d. 52,400

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