Best Buy has a cash sale of computer equipment to a customer for $1,000. The PA sales tax is 6%. The amount of cash collected by Best Buy for the sale is $1,600.

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True

False

On 11/2, Bridgedeer collects $10,000 in sales revenue from credit card payments. These payments are processed by a credit card processor which charges a 5% fee to Bridgedeer for collecting the credit card charges and depositing the money collected to Bridgedeer's cash account at their bank. The amount of sales revenue recorded by Bridgedeer for credit card sales for 11/2 is $9,500.

True

False