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Use the following information to calculate the gross profit as it would appear on the income statement: Cash$100Sales$ 1,500Sales discounts100Sales returns and allowances300Cost of goods
Use the following information to calculate the gross profit as it would appear on the income statement:
Cash$100Sales$ 1,500Sales discounts100Sales returns and allowances300Cost of goods sold900Merchandise inventory400Insurance expense100D. Weber, capital400
Question 26 options:
1)
$100
2)
$1,000
3)
$1,100
4)
$200
5)
$600
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