Question - Suppose sam.com sell 2500 books on account for $11 each (cost these book is $16500) on october 10, 2012. One hundred of these books (cost $660) were damaged in shipment, so muddyriver.com later received the damaged goods as sales return on October 13, 2012. Then the customer paid the balance on October 22, 2012. Credit terms offered to the customer were 2/15, net 60.
1. Calculate net sales for October 2012.
2. Calculate gross profit for October 2012.