Alpha company sold goods to customers who used under-the-hill bank credit cards. credit card sales on july 8, 2016 amounted to $12,000 and were subject to a 2.5% bank fee. use this information to prepare the general journal entry (without explanation) for july 8, 2016.

Explanation:

The journal entry for July 8, 2016 is shown below:

Bank A/c Dr                       $11,700

Commission fee A/c $300 ($12,000 × 2.5%)

        To Sales A/c                    $12,000

Since the sales is recorded at $12,000 which includes commission fee of $300 ($12,000 × 2.5%) , the remaining balance i.e $11,700 ($12,000 - $300) would be debited to the bank account.

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.

y=mx+b is the right slope of velocity carry the 4 over