What is the amount of gross profit earned, Accounting Basics

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What is the amount of gross profit earned

Abbey Co. sold merchandise to Gomez Co. on account, $18,000, terms 2/15, net 30. The cost of the merchandise sold is $12,600. Abbey Co. issued a credit memo for $2,500 for merchandise returned that originally cost $1,800. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co.?

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Accounting Basics: What is the amount of gross profit earned

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Recent Questions Asked Accounting Basics

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Accounting Basics: What is the amount of gross profit earned

Reference No:- TGS065844

Recent Questions Asked Accounting Basics

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