Question

Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28, 2015:
National Express credit card sales ....... $ 9,300
ValueCard debit card sales ......... 9,000

Requirements
1. Suppose Chocolate Passion’s processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant.
2. Suppose Chocolate Passion’s processor charges a 3% fee and deposits sales using the gross method. Journalize these sale transactions for the restaurant.



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  • CreatedJanuary 16, 2015
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