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The Asian Garden, a local Thai restaurant, expects sales to be $480,000 in January. Its average customer restaurant bill is 30. Only 20% of the restaurant bills are paid with cash; 70% are paid with credit cards and 10% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.60 per nsaction+5\% of the amount charged Debit cards : 0.55 per 15action+4\% of the amount charged

nilar to) X e pal Help Me Solve This n are an Question Help ard J.H rev The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January. Its average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: $0.20 per transaction + 1% of the amount charged Read the requirements. Consumers often use credit and debit cards to pay for online and in-store purchases at retailers, gas stations, and restaurants. What implications do these payment methods have on the merchants that accept "plastic" in place of cash or checks? Credit card companies (Visa, MasterCard, American Express, and Discover) and their issuing banks charge the merchant a transaction fee for each purchase made using plastic. The fee, officially known in business as "interchange," is usually a fixed amount per transaction plus a percentage of the amount charged. The actual fee wil depend on the credit card brand, the merchant's industry, and whether the card is present or not (for example, online sales). Reward cards, such as those tied to frequent flyer miles, typically charge higher fees. In exchange for the fee, the credit card company and its issuing bank pays the merchant the entire amount of the purchase less the transaction fee. A deposit is made to the merchant's bank account within a few days of the sale. Requirement 1. How much of the total sales revenue is expected to be paid in ce n cash? We are told that Red Dragon expects sales to be $700,000 in January, and that 10% of the restaurant bills are paid with cash. Use this Information to calculate how much of the total sales revenue is expected to be paid in cash. % of bills paid Cash paid with cash revenue $ 700,000 $ 70,000 Sales revenue 10 % Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check Answer Close Close pts imilar to) Question Help e pal den Help Me Solve This can ) Question Help card Trem 1.H The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January. Its average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: $0.20 per transaction + 1% of the amount charged Read the requirements: 5 Requirement 2. How many customer transactions does the company expect in January Since total sales are expected to be $700,000 in January and the company's average customer restaurant bill is $50, we can divide the sales amount by the average bill to determine how many customer transactions Red Dragon expects to have for the month. Calculate this amount now. Sales revenue + Average customer bill Number of transactions $ 700,000 + $ 50 14,000 Requirement 3. How much of the total sales revenue is expected to be paid with credit cards? We are told that Red Dragon expects sales to be $700,000 in January, and that 60% of the restaurant bills are paid with credit cards. Use this information to calculate how much of the total sales revenue is expected to be paid with credit cards. % of bills paid Credit card with credit cards revenue $ 700,000 $ 420,000 Reauirement 4. How many customer transactions will be paid for by customers using credit cards? Enter any number in the edit fields and then click Check Answer All parts showing Clear All Check Answer Close Sales revenue X X 60 % LO X e pal 0 Help Me Solve This Question Help The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January. Its average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: $0.20 per transaction + 1% of the amount charged transactions X Read the requirements Requirement 4. How many customer transactions will be paid for by customers using credit cards? We previously calculated the total number of transactions per month to be 14,000. We can multiply this amount by the percent of bilis paid with credit cards, 60%, to determine the portion of customer transactions that will be paid for by customers using credit cards. Number of % of bills paid Credit card with credit cards transactions 14,000 60 % - 8,400 Requirement 5. When budgeting for January's operating expenses, how much should the restaurant expect to incur in credit card transaction fees? We are told that the transaction fees charged by the credit card issuers are $0.50 per transaction + 5% of the amount charged. Use the formula below to calculate the total credit card transaction fees for the month of January Credit card Porcent fee Credit card Total credit card (transaction transactions)+( on credit sales ) = transaction fees ($ 5 % * $ 420,000 25,200 Fee per X * revenue 0.50 X 8,400 )= $ Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check Answer Close OP at can I card Question Help similar to) rden Help Me Solve This are Question Help uirem The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January. Its average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: at 1. H Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: $0.20 per transaction + 1% of the amount charged es Read the requirements Requirement 6. How much of the total sales revenue is expected to be paid with debit cards? We are told that Red Dragon expects sales to be $700,000 in January, and that 30% of the restaurant bills are paid with debit cards. Use this Information to calculate how much of the total sales revenue is expected to be paid with debit cards. Sales of bills paid Debit card revenue x with debit cards $ 700,000 30 % $ 210,000 Requirement 7. How many customer transactions will be paid for by customers using debit cards? We previously calculated the total number of transactions per month to be 14,000. We can multiply this amount by the percent of bills paid with debit cards, 30%, to determine the portion of customer transactions that will be paid for by customers using debit cards. Number of % of bills paid Debit card with debit cards transactions 14,000 30 % - 4.200 revenue transactions w BAR When butinene Intinde natin na hind the im Enter any number in the edit fields and then click Check Answer All parts showing Clear All Check Answer Close d the requirem The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January, Iis average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: 50.20 per transaction + 1% of the amount charged muirement 1. al sales roy Fee per Read the requirements Requirement 8. When budgeting for January's operating expenses, how much should the restaurant expect to incur in debit card transaction fees? We are told that the transaction fees charged by the debit card issuers are $0.20 per transaction + 1% of the amount charged. Use the formula below to calculate the total debit card transaction fees for the month of January Debit card Percent fee Debit card Total debit card transaction transactions : on debit sales revenue ) transaction fees (S 4,200 $ 210,000 2,940 Requirement 3. How much money will be deposited in the restaurant's bank account during the month of January related to credit and debit card sales? Assume the credit and debit card issuers deposit the funds on the same day the transactions occur at the restaurant (there is no processing delay) Using the amounts you previously computed, calculate the total credit and debit card sales before any fees, then compute the net amount after fees are deducted. This is the amount that would be deposited into Red Dragon's bank account during the month of January, assuming no processing delays. Sales paid with credit cards (Requirement 3) 0,20 $ 420,000 an are Help Me Solve This can aard em 1.H rov Question Help The Red Dragon, a local Thai restaurant, expects sales to be $700,000 in January. Its average customer restaurant bill is $50. Only 10% of the restaurant bills are paid with cash; 60% are paid with credit cards and 30% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.50 per transaction + 5% of the amount charged Debit cards: $0.20 per transaction + 1% of the amount charged Read the requirements Sales paid with debit cards (Requirement 6) 210,000 Total credit and debit card sales before fees $ 630,000 Less credit card transaction fees (Requirement 5) (25,200) Less debit card transaction fees (Requirement 8) (2.940) Total cash deposited from credit and debit cards 601,860 Requirement 10. What is the total amount of money that the restaurant expects to deposit in its bank account during the month of January from cash, credit card, and debit card sales? Again assume the credit and debit card issuers deposit the funds on the same day that the transaction occurs We can add the total cash sales transactions calculated in Requirement to the total cash deposited from credit and debit card transactions calculated in Requirement 9 to determine the total amount of money that the restaurant expects to deposit in its bank account during the month of January from cash, credit card, and debit card sales, assuming no processing delays. Cash revenue (Requirement 1) $ 70,000 Total cash deposited from credit and debit cards (Requirement 9) 601,860 Totalrath dannuitetin hank from rashmal and Makit rande Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check Answer Close The Asian Garden, a local Thai restaurant, expects sales to be 5480,000 in January. Its average customer restaurant bill is $30. Only 20% of the restaurant bills are paid with cash; 70% are paid with credit cards and 10% with debit cards. The transaction fees charged by the credit and debit card issuers are as follows: Credit cards: $0.60 per transaction + 5% of the amount charged Debit cards: $0.55 per transaction +4% of the amount charged Read the requirements. Requirement 1. How much of the total sales revenue is expected to be paid in cash? The total sales revenue expected to be paid in cash is * Requirements 1. How much of the total sales revenue is expected to be paid in cash? 2. How many customer transactions does the company expect in January? 3. How much of the total sales revenue is expected to be paid with credit cards? 4. How many customer transactions will be paid for by customers using credit cards? 5. When budgeting for January's operating expenses, how much should the restaurant expect to incur in credit card transaction fees? 6. How much of the total sales revenue is expected to be paid with debit cards? 7. How many customer transactions will be paid for by customers using debit cards? 8. When budgeting for January's operating expenses, how much should the restaurant expect to incur in debit card transaction fees? 9. How much money will be deposited in the restaurant's bank account during the month of January related to credit and debit card sales? Assume the credit and debit card issuers deposit the funds on the same day the transactions occur at the restaurant (there is no processing delay). 10. What is the total amount of money that the restaurant expects to deposit in its bank account during the month of January from cash, credit card, and debit card sales? Again assume the credit and debit card issuers deposit the funds on the same day that the transaction occurs. Print Done Sc 10