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Oriole Garage Co. accepts the following forms of payment: Visa, Mastercard, the Oriole Garage Co. credit card, and debit. Oriole is charged 3.50% for all
Oriole Garage Co. accepts the following forms of payment: Visa, Mastercard, the Oriole Garage Co. credit card, and debit. Oriole is charged 3.50% for all bank credit card transactions and $0.50 per transaction for all debit card transactions. Oriole charges 14.25% interest on balances owing on the Oriole Garage Co. credit card. In October and November 2024, the following summary transactions occurred: Oct. 15 Performed services totalling $14,100 for customers who used the Oriole Garage Co. credit card for payment. 20 Performed services totalling $8,200 to customers who used Visa credit cards. 30 Performed services totalling $1,500 on account, terms n/30. 31 Performed services totalling $4,800 for customers who used debit cards (100 transactions). Nov. 15 Collected amounts owing from October 15 transactions. In addition to these transactions, Oriole had rent expense of $4,100, supplies expense of $540, and salaries expense of $5,300 for the months of October and November. Prepare a single-step income statement for Oriole Garage Co. for the two months ended November 30. (Round answers to 0 decimal places, e.g. 2,275.)
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