Accounting Practice Problems Accounts Receivable Factoring and Credit Card Sales Practice Problems Solution: A customer used a credit card to pay for $400 of s...

Solution: A customer used a credit card to pay for $400 of services. The credit card company charged 2.5% for its services. How much did the company record as a deposit to its checking account as result of the sales transaction? a. $400.00 b. $410.00 c. $390.00 d. $388.00

Problem

A customer used a credit card to pay for $400 of services. The credit card company charged 2.5% for its services. How much did the company record as a deposit to its checking account as result of the sales transaction?

a. $400.00

b. $410.00

c. $390.00

d. $388.00