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In a Business,accepting Payments by Credit Card Causes Significant Differences

Question 59

Multiple Choice

In a business,accepting payments by credit card causes significant differences between the bank and book balances because the credit card service provider:


A) records the gross amount of each credit card sale.
B) deposits the amount of the sale in the business's account on the date of the sale itself.
C) deposits the sale amount in the business's account after deducting a service fee.
D) retains the sale amount in the business's account in the event of customer challenge.

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