Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank

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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:

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Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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Question Posted: Feb 11, 2024 03:00 AM

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Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank

Question:

(a) Cash and Service Charge Expense (b) Accounts Receivable and Service Charge Expense (c) Cash (d) Accounts Receivable $48,000 $2,000 $48,000 $2,000 $50,000 $50,000

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Financial And Managerial Accounting

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