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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
A retailer has 4% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $1,200 in credit/debit card sales for the day. The journal entry to record these sales would be to:
A) debit Cash for $1,200 and credit Sales for $1,200.
B) debit Sales for $1,200 and credit Cash for $1,200.
C) debit Cash for $1,152, debit Service Fee Expense for $48; and credit Sales for $1,200.
D) debit Cash for $1,152 and credit Sales for $1,152.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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bravata Author
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#2
7 years ago
Thank you so much

I wish I knew about this years ago
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