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. 1. Total cash sales = $330,000 2. Total check sales = $180,000 3. Total credit card sales = $430,000 4. Total debit card sales = $260,000 Calculate the amount recorded as cash receipts from these transactions. Total cash sales Total check sales Total credit card sales Total debit card sales Total cash receipts $ 0

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. 1. Total cash sales = $330,000 2. Total check sales = $180,000 3. Total credit card sales = $430,000 4. Total debit card sales = $260,000 Calculate the amount recorded as cash receipts from these transactions. Total cash sales Total check sales Total credit card sales Total debit card sales Total cash receipts $ 0

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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