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| Nadad Co. | Amount $ | Note |
| Sales Revenue | 75,000.00 | A |
| Visa charges | 2% | B |
| Visa charges | 1,500.00 | C=A*B |
| This $ 1,500 will be recorded as transaction charges. | ||
| Cash received | 73,500.00 | D=A-C |
| So sales revenue should be credited by $ 75,000. | ||
| Cash will be debited by $ 73,500. | ||
| Transaction charges will be debited by $ 1,500. |
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Nadad Co. accepted $75,000 of Visa credit card charges for merchandise sold on July 1. Visa...
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Schofield Retailers accepted $40000 of Silver Bank MasterCard
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charges 4% for its credit card use. The entry to record this
transaction by Schofield Retailers will include a credit to Sales
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Accounts Receivable for $40000.
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$2400.
Cash for $38400 and Service Charge Expense for $1600.
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pharaoh company accepted a Visa card payment
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Schofield Retailers accepted $40000 of Silver Bank MasterCard
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charges 4% for its credit card use. The entry to record this
transaction by Schofield Retailers will include a credit to Sales
Revenue of $40000 and a debit(s) to
Accounts Receivable for $40000.
Accounts receivable for $38400 and Service Charge Expense for
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Cash for $38400 and Service Charge Expense for $1600.
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A Stello's Berry Farm accepted a bank-issued credit card in payment of a $1,300 sales transaction. Stelloh's bank charges 3% to process the transaction. The Journal entry to record the sales transaction will include (Ignore cost of goods sold) O A. a debit to Cash for $1,300 and a credit to Sales Revenue for $1,300 OB. a debit to Accounts Recevable for $1,261 and a credit to Sales Revenue for $1,261 O C. a debit to Accounts Receivable for $1,300,...
- October 1 Sold $11,000 of merchandise to Pearsey Co, on account. October 3 Sold $2.400 of merchandise to Borg Corporation, who paid by credit card. The cilit card company charges Beltran a fee of 1% on credit card sales October 7 Sold $19,000 of merchandise to McNab Company on account. October 8 Pearsey paid the balance of what it owed for the purchase on October 1 October 12 Sold $17.000 of merchandise to Wack Enterprises on account. October 16...
pharaoh company accepted a Visa card payment
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