Question

Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28, 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Suppose Chocolate Passion's processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Debit Credit Requirements 1. Suppose Chocolate Passion's processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Chocolate Passion's processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant i Data Table Print Done National Express credit card sales $ 11,400 ValueCard debit card sales 7,000 Print Print Done Done Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check Answer

Answer 1

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Credit Ansoo on the net sales basis General Joerynel_ Cash . Al Card discount Expense Alc TO Sales Revenue esh 1 . Ale Card discount Expense Ale To sales Revenue Delar $11,058 $342 or or е с $11,400 Dr $ 6,730 All $ 7,000 2 on the 1 cross basise Ale Sales Revenue Cash - $11,400 To Dr All $ 11,400 Cash or $7000 Me sales . Revenue To $7000