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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 3% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $1,700 in credit/debit card sales for the day. The journal entry to record these sales would be to:
A) debit sales for $1,700 and credit Cash for $1,700.
B) debit Cash for $1,700 and credit Sales for $1,700.
C) debit Cash for $1,649, debit Service Fee Expense for $51; and credit Sales for $1,200.
D) debit Cash for $1,700, credit Sales for $1,649, and credit Service Fee Expense for $51.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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7 years ago
Thank you, thank you, thank you!
deathwing
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Just got PERFECT on my quiz
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2 hours ago
Thanks for your help!!
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