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Credit Card Sales Support My Subscriptions Skyeler 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 Great American Bank Card United Merchants Card $1,700 2,200 1,400 $5.300 If the transaction affects the same Balance Sheet category, enter the larger amount in the first row and the smallehamount directly below (in the second row). Balance Sheet Income Statement Assets Liabilities Stockholders Equity Revenues Expenses - Net Income Use the Transaction Analysis Template to record the following: b. Received a check for $7,956 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 (in the second row). Balance Sheet Income Statement Stockholders Assets Liabilities Equity Revenues Expenses - Net Income 34