Taylor Company accepted credit cards in payment for $7,250 of merchandise sold during March 2010. The credit
Question:
Taylor Company accepted credit cards in payment for $7,250 of merchandise sold during March 2010. The credit card company charged Taylor a 3 percent service fee. The credit card company paid Taylor as soon as it received the invoices. Cost of goods sold amounted to $4,100.
Required
Based on this information alone, what is the amount of net income earned during the month of March?
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Credit card expense Sales 7250 x 3 21750 Net Income Sales 72...View the full answer
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