What is the amount of net income earned, Accounting Basics

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What is the amount of net income earned

Silver Co. sold merchandise to Bronze Co. on account, $23,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Silver Co. issued a credit memorandum for $2,500 for merchandise returned that originally cost $1,900. The Bronze Co. paid the invoice within the discount period. What is the amount of net income earned by Silver Co. on the above transactions?

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Accounting Basics: What is the amount of net income earned

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