Question

During the month, merchandise is sold for $80,500 cash and for $119,000 on account. The cost of goods sold is $101,500. What is the amount of gross profit?

a. $199,500
b. $119,000
c. $98,000
d. $80,500

Answer 1

first add two numbers and get the sum and then subtract with the third number and get the different ..so the answer will be C: 98000