Brooke's Bikes sold $11,235 worth of mountain bikes to customers using bank credit cards during October.The banks charge a credit card fee of 4% of sales.The amount of sales Brooke's Bikes should recognize for October is _________.

Question

Quizplus · Accepted Answer

Brooke's Bikes should recognize the full amount of sales, $11,235, as revenue for October. The credit card fee is an expense and does not reduce the recognized sales amount.

Brooke's Bikes Sold $11,235 Worth of Mountain Bikes to Customers