The local grocery store expects that customers will use credit cards to pay for a total of 100,000 sales transactions during the month of April. These transactions are expected to amount to $8,000,000 in total sales revenue. The credit card issuers charge the store a transaction fee equal to $0.45 per transaction plus 2.5% of the amount charged. When budgeting for operating expenses in April, how much should the store expect to incur for credit card transaction fees? The store should expect to incur credit card transaction fees of

State the meaning of Income and Expenditure Account.

Required information Skip to question [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Chucktown Sauce Company (in thousands): Segments Red $ 1,817 22 Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense (92) Income tax expense (savings) 147 Consider the following questions independently. None of the six segments have a primarily financial nature. c. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer? Note: Enter your answer in dollars but not in thousands. 620 145 Blue Green Pink Black White $ 818 $520 $315 $127 $ 105 97 115 0 308 71 385 408 318 172 87 65 93 88 67 22 55 323 98 48 37 68 20 11 (70) 0

Distinguish between Income and Expenditure Account and Receiptand Payment Account.