Homework Answers
Solution
| Total cash sales | $ 410,000 |
| Total check sales | $ 260,000 |
| Total credit card sales | $ 494,700 |
| Total debit card sales | $ 108,900 |
| Total Cash receipts | $ 1,273,600 |
Cash sales and check sales will be collected in full but credit card sales will be 97% of total credit card sales and debit card sales will be 99% of total debit card sales.
Alternate answer assuming check sales are not cash sales
| Total cash sales | $ 410,000 |
| Total check sales | $ - |
| Total credit card sales | $ 494,700 |
| Total debit card sales | $ 108,900 |
| Total Cash receipts | $ 1,013,600 |
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