On September 20, Mendes Inc. presents credit card drafts to its bank in the amount of $10,000; the collection charge is 4%.
Required: Identify the effects on the accounting equation for Mendes' books on September 20, the date of deposit.

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The Answer of On September 20, Mendes Inc. presents credit card drafts to its bank in the amount of $10,000; the collection charge is 4%.
Required: Identify the effects on the accounting equation for Mendes' books on September 20, the date of deposit.