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.