Question: PROBLEMS During the current year, merchandise is sold for $137,500 cash and $425,600 on account. The cost of the merchandise sold is $322,325. What is

PROBLEMS During the current year, merchandise is sold for $137,500 cash and $425,600 on account. The cost of the merchandise sold is $322,325. What is the amount of the Gross Profit? Determine the DUE DATE and amount of interest due at maturity on the following notes Origination Face Interest Term of Note Interest Date Amount Date (a) May 1 5600 60 days 9% (b)June 15 $2.00 120 days 8% (c) April 10 00 60 days 6% (d)July5 S900 90days 10%

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