QUESTION 13 On March 10th, Seller Company sold goods on account to Buyer Company. The goods had an original cost to Seller of $18,000 and were shipped FOB Destination on March 14th with $400 of freight collect. The goods arrived at Buyer's facility on March 17th. Seller lists the goods in its catalog at a $35,000 price but was willing to offer Buyer a 20% trade discount. Additionally, Seller provided Buyer with payment terms of 2/10, 1/30. Buyer returned $7,000 of merchandise on March 18th and on March 21st paid the balance owed to Seller. The returned merchandise had an original cost to Seller of $4,500. How much gross profit will Seller Company report as a result of this transaction? A. $6,680 B. $9,040 OC. $13,940 OD. None of the answer choices provided are correct. O E $7,080 OF. $2,580 QUESTION 14 The entry to close the Warranty Payable account may include a debit to A. Warranty Payable and a credit to Warranty Expense. B. Income Summary and a credit to Warranty Payable. None of the answer choices provided are correct as Warranty Payable is not closed. D. Warranty Payable and a credit to Income Summary O E Warranty Expense and a credit to Warranty Payable QUESTION 15 A company had $579,000 in net sales, net income of $129,000, sales discounts of $12,000, sales returns and allowances of $9,000, and operating expense of $130,000. The company would report Gross Profit of $259,000. True O False