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What is the amount of the gross profit

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1. During the current year, merchandise is sold for $315,800 cash and $1,225,000 on account. The cost of the merchandise sold is $875,000. What is the amount of the gross profit?

2. During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The cost of the merchandise sold is $188,000. What is the amount of the gross profit?

Reference no: EM132486948

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