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Abbey Co. sold merchandise to Gomez Co. on account, $35,000, terms n/45. The cost of the goods sold was $24,500. Abbey Co. issued a credit memo for $3,600 for merchandise returned that originally cost $1,700. What is the amount of gross profit earned by Abbey Co. on these transactions?

a.$31,400
b.$8,600
c.$10,500
d.$30,772

Sagot :

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