Dr. Blank sent an account owing $1,000 for collection. The collection charged its usual fee of 40%. After collection, what was the amount received by Dr. Blank from the collection agency?

Question

Quizplus · Accepted Answer

The collection agency charged a 40% fee on the $1,000 account, which means they kept $400. Therefore, the amount received by Dr. Blank from the collection agency was $1,000 - $400 = $600.

Dr Blank Sent an Account Owing $1,000 for Collection