Luna Company accepted credit cards in payment for $6,000 of services performed during July 2018. The credit

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Luna Company accepted credit cards in payment for $6,000 of services performed during July 2018. The credit card company charged Luna a 4 percent service fee; it paid Luna as soon as it received the invoices.

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Based on this information alone, what is the amount of net income earned during the month of July?

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Survey of Accounting

ISBN: 978-1259631122

5th edition

Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay

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Question Posted: Jul 04, 2017 09:46 AM

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Luna Company accepted credit cards in payment for $6,000 of services performed during July 2018. The credit

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Credit card expense Sales 6000 x ...View the full answer

Survey of Accounting

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