Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 20.the credit card company charges a 1% fee on all

20.The credit card company charges a 1% fee on all credit card sales. How much...

70.2K

Verified Solution

Question

Accounting

20.The credit card company charges a 1% fee on all credit card sales. How much credit card expense would company pay if total sales were 200,000 including cash sales of 100,000 and credit card sales of $100,000?

A. $100

B.$200

C.$2,000

D.$1,000

Question 21

How much cash would a company receive if credit card sales were $600,000 and we are charged a 2% fee on credit card sales?

A.$12,000

B.$612,000

C.$588,000

D.$600,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Operations Management
1.2K views

Selling expensive insurance policies Ahmad works for a life insurance company as a sales representative. He has...

Biology
1.2K views

Cladistics & Homology • What does it mean when we say a cladogram depicts a “hypothesis of...

Chemistry
1.2K views

Using only the elements Ca, Cl, Si, give formulas for the following: (a) an ionic compound....

General Management
1.2K views

Why does an organization tackle stage four in the product development process, business case analysis? To...

Biology
1.2K views

Determine whether the samples are independent or consist of matched pairs The effect of caffeine...

Calculus
1.2K views

a Estimate the area under the graph of f x 3 2x2 from x 1...

Calculus
1.2K views

Determine the vertex of the parabola whose graph is given below suver nnbookOE 654321 7...

Algebra
1.2K views

If clients want to buy a specific home but fall short of the 25 28...

Accounting
1.2K views

What is the difference between traditional cost analysis and strategic cost analysis?

Accounting
1.2K views

Question: If a company distributes dividends to its shareholders, how does it impact the accounting...

Accounting
1.2K views

More info 80% in the month of the sale 10% in the month after the...

Accounting
1.2K views

Intelligent Toys, Inc ("ITI") is a well establish toys trading company which adopts the periodic...