Question: Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2)
Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the cash flows? (4) What costs would a business incur if it maintained its own accounts receivable? cost does a business incur by accepting credit cards? Recording credit card sales Luna Company accepted credit cards in payment for $6,000 of services performed during 2016. The credit card company charged Luna a 4 percent service fee: it paid Luna as received the invoices. Required a. Prepare the general journal entry to record the service revenue. b. Prepare the general journal entry for the collection of the receivable from the company c. Based on this information alone, what is the amount of net income earned during of July
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