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How much income should be recognize by the employee

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Question: An electronics store sold a home theater system to an employee for $300, even though the retail price was $500. The gross profit percentage is 40%. Such discounts are available to all employees. How much income should be recognize by the employee from these transactions?

A) $120

B) $0

C) $100

D) $200

Reference no: EM131756247

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