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Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Because the cooperative made a profit in 2012, it distributed to it members 2% of their purchases. Zach received his share of the distribution, $6,200, in March 2013. What is Zack's gross income from the distribution?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9612642

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