Question: Saved Help Save & Exit Submit MacKenzie Company sold $320 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts

Saved Help Save & Exit Submit MacKenzie Company sold $320 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash of $320 and credit Sales $320. Debit Cash of $320 and credit Accounts Receivable-Regional $320. Debit Accounts Receivable-Regional $304.00; debit Credit Card Expense $16.00 and credit Sales $320 Next> 2 of 40

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