
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 1
BANKING ACTIVITIES OF A RETAILER
Tiny Waterton owns and operates an automobile repair shop. Many of his customers use credit cards for their purchases, and his credit-card sales during a recent week were $8752.40. During the same period, he had $573.94 in credit refunds, and he pays credit-card fees of 21?2% on the net credit-card sales.
The balance at the beginning of the week was $4228.34. Checks outstanding were $758.14, $38.37, $1671.88, $120.13, $2264.75, $78.11, $3662.73, $816.25, and $400. Waterton had credit-card and bank deposits of $458.23, $771.18, $235.71, $1278.55, $663.52, and $1475.39 that were not recorded.
Find the total of the deposits that were not recorded.
Tiny Waterton owns and operates an automobile repair shop. Many of his customers use credit cards for their purchases, and his credit-card sales during a recent week were $8752.40. During the same period, he had $573.94 in credit refunds, and he pays credit-card fees of 21?2% on the net credit-card sales.
The balance at the beginning of the week was $4228.34. Checks outstanding were $758.14, $38.37, $1671.88, $120.13, $2264.75, $78.11, $3662.73, $816.25, and $400. Waterton had credit-card and bank deposits of $458.23, $771.18, $235.71, $1278.55, $663.52, and $1475.39 that were not recorded.
Find the total of the deposits that were not recorded.
Explanation
The total of the deposits that...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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