Page 1 of 1
Abbey Co, sold merchandise to Gomez Co, on account, $35,800, terms 2/15, net 45. The cost of the merchandise sold was $1
Posted: Tue Jul 05, 2022 11:23 am
by answerhappygod
- Abbey Co Sold Merchandise To Gomez Co On Account 35 800 Terms 2 15 Net 45 The Cost Of The Merchandise Sold Was 1 1 (8 KiB) Viewed 13 times
Abbey Co, sold merchandise to Gomez Co, on account, $35,800, terms 2/15, net 45. The cost of the merchandise sold was $14,000. Abbey Co. issued a credit memo for $3,300 for defective merchandise, which was not returned to Abbey. Gomez Co. paid the invoice within the discount period. What is the gross profit earned by Abbey Co. on these transactions? $17,350 Cb, $11,350 Oc. $1,300 d. $35,084