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Calculator Abbey Co. sold merchandise to Gomez Co. on account, $29,900, terms 2/15, net 30. The cost of the merchandise sold is $20,930. Abbey Co.

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Calculator Abbey Co. sold merchandise to Gomez Co. on account, $29,900, terms 2/15, net 30. The cost of the merchandise sold is $20,930. Abbey Co. issued a credit memo for $2,500 for merchandise returned that originally cost $1,800. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? The net income is s

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