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JCS Incorporated experienced the following transactions during its first year of business. The company purchased $13.400 of merchandise from Kent Company. The company paid $2.200
JCS Incorporated experienced the following transactions during its first year of business. The company purchased $13.400 of merchandise from Kent Company. The company paid $2.200 for selling and administrative expenses and purchased land for $6,000. All of the merchandise purchased was sold for $31,000 cash. The amount of gross margin for this merchandise is Multiple Choice O $17600 $200 0 0 $31.000 0
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