Ernie Andrews thinks that a sale on a nonbank credit card should be recorded as a debit

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Ernie Andrews thinks that a sale on a nonbank credit card should be recorded as a debit to cash, as cash will be received from the credit card company. Is Ernie correct? Explain.

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Accounting Principles Part 2

ISBN: 978-1118306796

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 30, 2017 12:07 PM

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Ernie Andrews thinks that a sale on a nonbank credit card should be recorded as a debit

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Ernie is not correct Only bank credit card sales are cash s...View the full answer

Accounting Principles Part 2

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