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Accounting

Slotnick Chemical received customer deposits on returnable containers in the amount of $300,000 during 2011. Fifteen percent of the containers were not returned. The deposits are based on the container cost marked up 20%. How much profit did Slotnick realize on the forfeited deposits?

a. $0

b. $7,500

c. $9,000

d. $45,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9402407

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