Consider these transactions: (a) Bella Restaurant accepted MasterCard for payment of a $200 dinner. The bank charges

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Consider these transactions:

(a) Bella Restaurant accepted MasterCard for payment of a $200 dinner. The bank charges a 4% fee. What entry should Bella Restaurant make?

(b) Frantella Ltd sold its accounts receivable of $50 000. What journal entry should Frantella make, given a service charge of 4% on the amount of receivables sold?

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Financial Accounting Reporting Analysis And Decision Making

ISBN: 9780730313748

5th Edition

Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong

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Question Posted: Sep 08, 2022 02:05 AM

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Consider these transactions: (a) Bella Restaurant accepted MasterCard for payment of a $200 dinner. The bank charges

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Financial Accounting Reporting Analysis And Decision Making

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