If Cable Inc.receives $23,825 from credit card collections and has an average rate of 4.7% charged by the credit card company, its credit card sales during the period were:

Name: If Cable Inc.receives $23,825 from credit card collections and has an average rate of 4.7% charged by the credit card company, its credit card sales during the period were:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

To find the credit card sales, divide the amount received by (1 - credit card fee rate): $23,825 / (1 - 0.047) = $25,000.