Strom Inc. provided interior design services for $170,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions. Which of the following is correct? Multiple Choice Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $169,150 Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $170,000 Strom Inc. would have an increase in Cash of $169,150 and Service Revenue of $169,150 Strom Inc. would have an increase in Cash of $170,000 and Service Revenue of $169,150 None of the choices are correct

Strom Inc. provided interior design services for $170,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions. Which of the following is correct? Multiple Choice Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $169,150 Strom Inc. would have Debit Card expenses in the amount of $850 and Service Revenue of $170,000 Strom Inc. would have an increase in Cash of $169,150 and Service Revenue of $169,150 Strom Inc. would have an increase in Cash of $170,000 and Service Revenue of $169,150 None of the choices are correct

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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