TB MC Qu. 07-149 (Algo) MacKenzie Company sold... MacKenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 6.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice Debit Cash of $460 and credit Sales $460. Debit Cash of $460 and credit Accounts Receivable–Regional $460. Debit Accounts Receivable-Regional $432.40; debit Credit Card Expense $27.60 and credit Sales $460. Debit Cash $432.40: debit Credit Card Expense $27.60 and credit Sales $460.
TB MC Qu. 07-149 (Algo) MacKenzie Company sold... MacKenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 6.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice Debit Cash of $460 and credit Sales $460. Debit Cash of $460 and credit Accounts Receivable–Regional $460. Debit Accounts Receivable-Regional $432.40; debit Credit Card Expense $27.60 and credit Sales $460. Debit Cash $432.40: debit Credit Card Expense $27.60 and credit Sales $460.
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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