From the Following Credit Card Transactions, Find the Credit-Card Sales

question 14

Multiple Choice

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-Expressway Photo Developers pays a 2%.

• A)$243.02, $4.86
• B)$253.02, $5.06
• C)$359.14, $7.18
• D)$306.08, $6.12

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Definitions:

Front-end Load

An upfront sales charge investors pay when they purchase mutual fund shares, which reduces the amount of the investment.

Back-end Load

A fee paid by investors when selling mutual fund shares, typically decreasing over time the longer shares are held, designed to discourage quick withdrawals.

Front-end Load

A sales charge or commission that investors pay upfront when purchasing shares of a mutual fund or investment, typically used to compensate brokers.

Back-end Load

A fee paid by investors when they sell shares of a mutual fund, often decreasing over time the longer shares are held.