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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
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. Calculate the amount recorded as cash receipts from these transactions. 1. Total cash sales = $500,000 2. Total check sales = $350,000 3. Total credit card sales = $600,000 4. Total debit card sales = $200,000
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