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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
With the Great American Bank Card, Ruth Annes Fabrics receives an immediate deposit in its checking
account for credit card sales. The bank charges a fee. With the United Merchants Card, Ruth Anne's
Fabrics receives a deposit after days, net of a fee.
Use the Transaction Analysis Template to record the following:
a Sales for March were as follows:
Cash and checks $
Great American Bank Card
United Merchants Card
$
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
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Use the Transaction Analysis Template to record the following:
b Received a check for $ from United Merchants on March
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
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