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Gold Co. sold merchandise to Bronze Co. on credit for, $23,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Gold Co.
Gold Co. sold merchandise to Bronze Co. on credit for, $23,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Gold Co. issued a memorandum of credit for $2,500 for returned merchandise that originally cost $1,900. Bronze Co. paid the bill within the discount period. What is the amount of net income obtained by Gold Co. in this sale?
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