Using the information in SE5-2A, calculate the gross profit from the sale and the gross profit ratio.
Question:
In SE5-2A, In February, Brenda Bailey’s sold $500,000 of merchandise on account with terms 2/10, n/30. The cost of the merchandise sold was $230,000.
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Related Book For 
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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