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How much gross profit will danger report on the company

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Reference no: EM132726762

On March 19, Zone Company placed an order to purchase merchandise with payment terms of 2/10, n/30. The goods were listed by Danger (the seller) in the company's catalog at a selling price of $3,300. The goods were carried on Danger's balance sheet at a historical cost of $1,200. Zone obtained an 8% trade discount.

Danger shipped the goods to Zone on March 26 with shipping terms of FOB Destination and $350 of prepaid freight.

The goods arrived at Zone's facility on April 3.

Zone inspected the goods, returned 1/3 and paid the balance due to Danger on April 7.

returned units had an original cost to Danger of $400

Problem 1: How much Gross Profit will Danger report on the company's income statement as a result of this transaction? (Round your final answers to the nearest $1).

A. $834

B. $784

C.$780

D. None of the answer choices provided are correct.

E. $1, 184

Reference no: EM132726762

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