Project Description:

e8-9 (b)

topeka stores accepts both its own and national credit cards. during the year the following selected summary transactions occurred.
jan. 15 made topeka credit card sales totaling $18,000. (there were no balances prior to january 15.)
20 made visa credit card sales (service charge fee 2%) totaling $4,300.
feb. 10 collected $10,000 on topeka credit card sales.
15 added finance charges of 1% to topeka credit card balance.
indicate the statement presentation of the financing charges and the credit card service charge expense for topeka stores. refer to e8-9 (a).
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