Assume the perpetual inventory method is used.

1) The company purchased $12,900 of merchandise on account under terms 3/10, n/30.

2) The company returned $2,400 of merchandise to the supplier before payment was made.

3) The liability was paid within the discount period.

4) All of the merchandise purchased was sold for $19,800 cash.

The amount of gross margin from the four transactions is:

a. 9615

b. 9687

c. 6900

d. 6693