In addition to cash payments Electric Entertainments pay a loyalty fee for games and movies...
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In addition to cash payments Electric Entertainments pay a loyalty fee for games and movies used each month. The loyalty fee is of total sales revenue and is to be paid in the month after the sales are earned.
If June sales are $ and July sales are $ what will be the loyalty fee paid in July? $
What will be the loyalty fee paid in August? $
Whilst Electric Entertainments accept they need to pay the loyalty fee, then are concerned that at times they are paying the fee on sales that they have not yet collected cash on If June cash sales are $ and credit sales are $with of credit sales collected in August how much of the loyalty fee is paid before the sale amount has been received by Electric Entertainments? $
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