Question
46. Mike Company makes $1600 of sales to customers paying with VISA credit card. The VISA credit card company charges 5 percent of gross sales.
46. Mike Company makes $1600 of sales to customers paying with VISA credit card. The VISA credit card company charges 5 percent of gross sales. Which of the following statements is true?
A. Mike will incur a $80 service charge expanse on the sales
B. Mike has an account payable of $1,520 to the credit card company
C Mike will record credit sales of $1,520 due to this transaction
D Mike will receive $ 1.600 in cash
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The Internal Auditor At Work A Practical Guide To Everyday Challenges
Authors: K. H. Spencer Pickett
1st Edition
0471458392, 978-0471458395
