Natural Beauty Supply accepts Discover cards from its customers, assignment help
Natural Beauty Supply accepts Discover® cards from its customers. Discover charges
Natural1.2% of sales for its services. During the 2009-2010 fiscal year, Natural’s customers used Discover cards to purchase $80,000 worth of merchandise.
How much did Natural show as sales on the income statement for the year ended June 30, 2010?
How much cash did Natural actually receive from these sales?
Begin by selecting the formula used to calculate the cash received. Then enter the amounts to calculate the cash received.
? – ? = Cash received.
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