At Hometown Arts, gross sales for the month included: Sales on account (2/10, n/30)
$150,000
Credit card sales (3% credit card fee) $200,000
Half of the sales on account were paid within the discount period; the other accounts were paid
in full by the end of the month.
Requirements
1. Journalize the sales on account, the credit card sales, and the cash payments on account
received during the month.
2. Calculate the net sales revenue for the month.