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Sanderson Company sold merchandise to Terra Co. for $32,000, the merchandise had cost $24,000. They also sold merchandise that cost $2,350 to Dicksons Co. for
Sanderson Company sold merchandise to Terra Co. for $32,000, the merchandise had cost $24,000. They also sold merchandise that cost $2,350 to Dicksons Co. for $3,800. Sanderson Company purchased merchandise from Jones Company for $14,800 under credit terms of 1/15, n/30. On March 16, Sanderson Company received the balance due from Terra Co. which was paid within the credit terms, Terra Co. received a discount of $320. Based on the information provided, what is the Gross Profit?
A) $9,450
B) $20,680
C) $9,130
D) $21,000
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