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Maslowich
3 years ago
11

Zane Enterprises accepts a credit card as payment for $500 of services provided to a customer. The credit card company charges a

4% handling charge for its collection services. Based on this information
a. Zane will collect $500 cash from the credit card company.

b. Zane will pay the credit card company $500 cash.

c. Zane will collect $480 cash from the credit card company.

d. Zane will pay the credit card company $480 cash.
Business
2 answers:
Alex787 [66]3 years ago
7 0

Answer:

c. Zane will collect $480 cash from the credit card company.

Explanation:

The credit card company will deduct the collection services from the amount collected before transferring it to Zane enterprises thus Zane will receive the ammount:

500 x (1 - 4%) = 500 x 0.96 = 480

sveticcg [70]3 years ago
6 0

Answer:

c) Zane will collect $480 cash from the credit card company.

Explanation:

The charges that Zane has to pay to the credit card company is:

$500 x 4% = $20

--> Total amount that Zane will collect from the credit card company is: $500 - $20 = $480

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Answer:

d. are more summarized than for lower levels of management

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3 years ago
Wember Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The
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Answer:

$3,515

Explanation:

The computation of the catering supplies is shown below:

= Catering supplies per month + per job cost  × expected number of jobs + per meal cost  × expected number of meals

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= $350 + $1,869 + $1,296

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Since the question is asking for planning budget so we considered the expected units in terms of jobs and meals

8 0
4 years ago
On December 1, Milka Inc. borrows $500,000 from the bank. Interest of 6% is due in six months. On December 31, Milka recognizes
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Milka's balance sheet reports: Interest payable for one month.

<h3>What is interest?</h3>

The fee you pay to borrow money or the fee you charge to lend money is called interest.

Some features of interest are-

  • The fee paid for the privilege of borrowing money is called interest, and it is often stated as an annual percentage rate (APR).
  • The compensation a lender or financial organization receives for giving out money is called interest.
  • The most common way to represent interest is as a yearly percentage of the loan amount.
  • The interest rate on the loan is known as this percentage.
  • For instance, if you put money in a savings account, a bank will provide you interest.

The three types of interest include -

  1. simple (regular) interest: The daily interest rate, the principle, and the number of days between payments are multiplied to determine simple interest.
  2. accrued interest: The amount of interest accrued on a loan or other financial obligation as of a certain date that has not yet been paid back.
  3. compounding interest: The interest you earn on interest is known as compound interest. Simple math may be used to demonstrate this: If you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 after the second year is over.

To know more about the estimation of simple interest, here

brainly.com/question/2294792

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2 years ago
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