Shea a regional jewelry store issues its own charge cards

Reference no: EM13596998

Shea, a regional jewelry store, issues its own charge cards to customers. It bills its customers on the first day of every month for purchases made during the previous month. In addition, Shea accepts Visa and MasterCard, both of which charge a 1.8 percent processing fee. The following sales were made during the period:

Visa $5490
MasterCard 3401
Shea card 10980
Cash Sales 2695
Sales paid by check 6400

What is the net amount of cash received from the sales made during the period (assume 10% NSF checks)?

Reference no: EM13596998

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