Restaurants do a large volume of business by credit and debit cards. Suppose Summer, Sand, and Castles
Question:
Restaurants do a large volume of business by credit and debit cards. Suppose Summer, Sand, and Castles Resort restaurant had these transactions on January 28, 2024:
Requirements
1. Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant.
2. Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.
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Authors: Tracie Miller Nobles, Brenda Mattison
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