Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. luna company accepted credit cards in payment for

Luna Company accepted credit cards in payment for $6,500 of services performed during July. The...

80.2K

Verified Solution

Question

Accounting

Luna Company accepted credit cards in payment for $6,500 of services performed during July. The credit card company charged
Luna a 3.55 percent service fee; it paid Luna as soon as it received the invoices.
Required
Based on this information alone, what is the amount of net income earned during the month of July?
Note: Do not round intermediate values. Round final answer to 2 decimal places.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Interstate Batteries are supposed to last at least 3 years. A consumer advocate collects a random...

Statistics
Q

23 Assertion A A point charge is lying at the centre of a cube of...

Physics
Q

Calculate the work done in the following situation A constant force F 3 5 1...

Calculus
Q

2 Multiply the matrices B 1 1 3 5 14 6 3 4 3 6...

Algebra
Q

The Rolling Department of Kraus Steel Company had 11,242 tons in beginning work in process...

Accounting
Q

7 Required Information Exercise Part 2 of 2 13-8 Payback Period and Simple Rate of...

Accounting
Q

29. Bricktan Inc. makes three products, basic, classic, and deluxe. The maximum Bricktan can sell...

Accounting
Q

KULLIUR 17 Punis The following information is for Euclid Corporation: Direct Materials(measured in pounds) $25...

Accounting
Q

4. Required information Skip to question [The following information applies to the...

Accounting
Q

The bank reconciliation a. is for information purposes only b. A part...

Accounting
Q

At December 31,2024, Blossom Company had a five-month, 6%, $102,000 note receivable that was issued...

Accounting
Q

OVE platinted to Checkpot 6,81 Present value of annuities and complex cath town) You are...

Finance