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High Quality Jewelers uses the perpetual inventory system. On March 3, High Quality sold merchandise for $75,000 to a customer on account with terms 2/15,
High Quality Jewelers uses the perpetual inventory system. On March 3, High Quality sold merchandise for $75,000 to a customer on account with terms 2/15, n/30. The cost of goods sold was $30,000. On March 18, High Quality received payment from the customer. Calculate the amount of gross profit. A. $73,500 B. $45,000 C. $43,500 D. $30,000
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