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

Question

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] · Answer 1 · 2022-02-14T21:31:07+03:00

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] · Answer 2 · 2022-02-14T20:02:04+03:00

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