What amount of gross profit would be shown on the income, Accounting Basics

What amount of gross profit would be shown on the income

On November 1, 2012, Everett Janitorial Supply sold merchandise for $5,000, FOB destination, 2/10, n/30. The merchandise coat $3,200. Everett paid transportation costs of $100. On November 6, 2012, merchandise of $1,000 from the Nov. 1 sale was returned. The returned merchandise has a cost of $600. Everett received payment for the balance of the sale on November 10, 2012. If this were the only sales transaction of the period, what amount of Gross profit would be shown on the income statement?

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Accounting Basics: What amount of gross profit would be shown on the income

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Accounting Basics: What amount of gross profit would be shown on the income

Reference No:- TGS0712118

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Accounting Basics: What amount of gross profit would be shown on the income

Reference No:- TGS0712118

Recent Questions Asked Accounting Basics

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