Question: it card and P 7 . 5 A ( LO 1 , 2 , 3 ) AP Malik Retail Shop allows customers to use debit
it card and
PA LO AP Malik Retail Shop allows customers to use debit and bank credit cards as well as cash for purchases of merchandise. The company does not accept personal cheques.
Malik's bank charges $ for every debit card transaction and for bank credit card transactions.
On July the company established a petty cash fund. Before it created the petty cash fund, cash was taken from the cash register whenever someone needed cash to pay for a small expense.
The following transactions happened in July:
July Established the petty cash fund by cashing a cheque for $
Total sales for the week were $ Customers paid for these purchases as follows: $ in cash, $ on debit cards transactions and the balance using bank credit cards.
Replenished the petty cash fund. On this date, the fund consisted of $ in cash and the following petty cash receipts:
tableRepair expense,$
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