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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 11
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 current balance in the account.
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 current balance in the account.
Explanation
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Assume the current balance in ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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