Question 4 Partially correct Mark 0.69 out of 1.00 P Flag question Credit Card Sales Ruth Anne's Fabrics accepts cash, personal checks, and two credit cards when customers buy merchandise With the Great American Bank Card, Ruth Anne's Fabrics receives an immediate deposit in its checking account for credit card sales. The bank charges a 4% fee. With the United Merchants Card, Ruth Anne's Fabrics receives a deposit after 3 days, net of a 3% fee. Use the Transaction Analysis Template to record the following: a. Sales for March 15 were as follows: Cash and checks $4,250 Great American Bank Card 5,500 United Merchants Card 3,500 $13,250 if the transaction affects the same Balance Sheet category, enter the larger amount in the first row and the smaller amount directly below in the second row). Balance Sheet Income Statement Stockholders Assets Liabilities Equity Revenues Expenses Net Income 4,250 X 0 13,250 X 13.250 325 12.925 3.500 x 0 Use the Transaction Analysis Template to record the following: b. Received a check for $19,890 from United Merchants on March 20 Use negative signs with answers, when appropriate. If the transaction increases and decreases the same Balance Sheet category, enter the increase amount in the first row and the decrease amount directly below Balance Sheet Income Statement Stockholders' Liabilities Equity Revenues Expenses (19,980) X 0 0 0 19,980 X Assets Net Income 0 0