The Kenai Company sold $600 worth of merchandise to a customer who used a National Bank credit
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Question:
The Kenai Company sold $600 worth of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on your credit cards. Kenai electronically submits credit card sales receipts to the credit card company and receives payment immediately.
Record the journal entry for the collection from the credit card company.
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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