Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank
Question:
Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1.
Citibank charges 4% for its credit card use. The entry to record this transaction by Blinka Retailers will include a credit to Sales Revenue of $50,000 and a debit(s) to:
(a) Cash $48,000 and Service Charge Expense $2,000
(b) Accounts Receivable $48,000 and Service Charge Expense $2,000
(c) Cash $50,000
(d) Accounts Receivable $50,000
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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