During the year, the following sales transactions occur. There is a charge of 3% on all credit card transactions and a 1% charge on all debit card transactions. Total cash sales = $380,000 Total check sales = $230,000 Total credit card sales = $480,000 Total debit card sales = $210,000 calculate the amount recorded as cash receipts from these transactions

During the year, the following sales transactions occur. There is a charge of 3% on all credit card transactions and a 1% charge on all debit card transactions. Total cash sales = $380,000 Total check sales = $230,000 Total credit card sales = $480,000 Total debit card sales = $210,000 calculate the amount recorded as cash receipts from these transactions

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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