Question

Abbey co. Sold merchandise to gomez co. On account, $35,000, terms 2/15, net 45. The cost of the merchandise sold is $24,500. Abbey co. Issued a credit memo for $3,600 for merchandise returned that originally cost $1,700. Gomez co. Paid the invo within the discount period. What is the amount of gross profit earned by abbey co. On the above transactions?

Answer 1

Answer:

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