What is the net amount of cash received from, Accounting Basics

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What is the net amount of cash received from

Shea, a regional jewelry store, issues its own charge cards to customers. It bills its customers on the first day of every month for purchases made during the previous month. In addition, Shea accepts Visa and MasterCard, both of which charge a 1.8 percent processing fee. The following sales were made during the period:

Visa $5490
MasterCard 3401
Shea card 10980
Cash Sales 2695
Sales paid by check 6400

What is the net amount of cash received from the sales made during the period (assume 10% NSF checks)?

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Accounting Basics: What is the net amount of cash received from

Reference No:- TGS0704498

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Recent Questions Asked Accounting Basics

Q : Advance due to long lead times quoted

Q : Discuss the number of units that must be sold at old price

Q : Explain the number of patient-visits

Q : What is qms weighted cost of capital

Q : What is the net amount of cash received from

Q : Complete the responsibility report for the home

Q : Calculate ducks net income from the concert for tax purpose

Q : How will these items affect nanettes federal income tax

Q : How to complete the responsibility report

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the net amount of cash received from

Reference No:- TGS0704498

Recent Questions Asked Accounting Basics

Q : Advance due to long lead times quoted

Q : Discuss the number of units that must be sold at old price

Q : Explain the number of patient-visits

Q : What is qms weighted cost of capital

Q : What is the net amount of cash received from

Q : Complete the responsibility report for the home

Q : Calculate ducks net income from the concert for tax purpose

Q : How will these items affect nanettes federal income tax

Q : How to complete the responsibility report

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