Baucom Company accepted credit cards in payment for $6,850 of merchandise sold during March 2012. The credit

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Baucom Company accepted credit cards in payment for $6,850 of merchandise sold during March 2012. The credit card company charged Baucom a 3 percent service fee. The credit card company paid Baucom as soon as it received the invoices. Cost of goods sold amounted to $3,800.

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Based on this information alone, what is the amount of net income earned during the month of March?

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Survey of Accounting

ISBN: 978-0078110856

3rd Edition

Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi

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