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Speed Wear Bicycle Gear accepts VISA credit cards from its customers.Speed Wear is closed on Sundays and on that day records the weekly sales and remits the credit card drafts to VISA.For the week ending on Sunday,April 12,cash sales totaled $3,650,and credit card sales amounted to $3,900.On April 15,Speed Wear received $3,794.70 from VISA as payment for the credit card drafts.Analyze the necessary adjustments on April 12 and 15.As a percentage,what collection fee is VISA charging Speed Wear?
Statement of Cash Flows
A financial statement showing the inflows and outflows of cash and cash equivalents over a period, categorized into operations, investing, and financing activities.
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