Problem

Recording credit-card and debit-card sales [5 min]Restaurants do a large volume of busines...

Recording credit-card and debit-card sales [5 min]

Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28, 2012:

National Express credit-card sales . . . . .

$ 9,300

ValueCard debit-card sales . . . . . . . . . . .

9,000

Suppose Chocolate Passion’s processor charges a 3% fee and deposits sales net of the fee.

Requirement

1. Journalize these sale transactions for the restaurant

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