How much gross profit did earn on the sale, Financial Accounting

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How much gross profit did earn on the sale

Response to the following problem:

Suppose Prentice Hall, the publisher, sells 1,000 books on account for $15 each (cost of these books is $8,000). One hundred of these books (cost, $800) were damaged in shipment, so Prentice Hall later received the damaged goods as sales returns. Then the customer paid the balance within the discount period. Credit terms were 2/15 net 30.

Journalize Prentice Hall's (a) sale, (b) sale return, and (c) cash collection transactions. How much gross profit did Prentice Hall earn on this sale?

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Financial Accounting: How much gross profit did earn on the sale

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