Eddie Bauer accepts Visa, MasterCard, Discover, and American Express as well as its own Eddie Bauer charge
Question:
Eddie Bauer accepts Visa, MasterCard, Discover, and American Express as well as its own Eddie Bauer charge cards. Assume that Visa and MasterCard charge a 1.8 percent processing fee while Discover and American Express charge a 3.5 percent processing fee. During the period, the following charge card sales occurred at a particular Eddie Bauer store (no payments were made by customers):
Visa ..............................................................$ 8,650
MasterCard .................................................. 10,625
Discover ....................................................... 6,175
American Express ........................................... 2,130
Eddie Bauer ................................................. 25,843
What is the net amount of cash received from charge sales during the period?
Step by Step Answer:
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines