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Ace Credit Card Company Agrees to Transfer Cash to Seller

Question 33

Multiple Choice

Ace Credit Card Company agrees to transfer cash to Seller Company immediately upon deposit of that company's credit card sales receipts.Ace charges a 2% fee for all credit card sales.If Seller Company deposits $57,300 credit card sales receipts,which of the following statements are true?


A) Ace will receive $56,154 cash from Seller Company.
B) Seller Company will receive cash $56,154 from Ace.
C) Ace will receive $57,300 cash from Seller Company.
D) Seller Company will receive $57,300 cash from Ace.
E) Ace will pay Seller Company a $1,146 credit card fee.

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