The amount of gross profit is $16900.
Gross income is the profit a commercial enterprise makes after subtracting all the fees which are associated with manufacturing and selling its services or products. you can calculate gross profit by using deducting the cost of products bought out of your overall sales.
Gross profit offers perception into how efficient a company is at coping with its production charges, consisting of hard work and supplies, to supply income from the sale of its goods and services. The gross profit for a enterprise is calculated by using subtracting the value of products bought for the accounting period from its overall revenue.
explanation:
merchandise is sold for = $24,000
merchandise is sold for cash = $34,200
The amount of gross profit is = $58200 - $ 41300 = $16900
= $16900
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