Consider the Following Short Case as You Respond to the Next

question 21

Multiple Choice

Consider the following short case as you respond to the next question: VLC Corporation sold merchandise with a cost of $200 on account for $300 to PRT Corporation; credit terms were 2 / 10, n / 30. VLC paid the outgoing freight charge of $10. PRT paid the invoice within the discount period.Inclusive of all the transactions that affect the income statement, VLC's gross profit on the sale was:

• A)$100
• B)$90
• C)$94
• D)$84

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A standardized assessment designed to measure human intelligence and cognitive abilities.

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