On May 10, Blossom Company sold merchandise for $4,500 and accepted the customer's Best Business Bank MasterCard. At the e of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charge a 3.4% service charge for credit card sales. Prepare the entry on Blossom Company's books to record the sale of merchandise. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation May 10 Accounts Receivable Sales Revenue Service Charge Expense Debit 4500 I Credit 4500

On May 10, Blossom Company sold merchandise for $4,500 and accepted the customer's Best Business Bank MasterCard. At the e of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charge a 3.4% service charge for credit card sales. Prepare the entry on Blossom Company's books to record the sale of merchandise. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation May 10 Accounts Receivable Sales Revenue Service Charge Expense Debit 4500 I Credit 4500

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 5PB: The following transactions were completed by Nelsons Hardware, a retailer, during September. Terms...

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American Signs allows customers to pay with their Jones credit card and cash. Jones charges American Signs a 3.5% service fee for each credit sale using its card. Credit sales for the month of June total $328,430, where 40% of those sales were made using the Jones credit card. Based on this information, what will be the total in Credit Card Expense at the end of June?
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