All of the following are regarding credit card expense except:
A) Credit card expense may be classified as a "discount" deducted from sales to get net sales.
B) Credit card expense may be classified as a selling expense.
C) Credit card expense may be classified as an administrative expense.
D) Credit card expense is not recorded by the seller.
E) Credit card expense is a fee the seller pays for services provided by the card company.

Question

Quizplus · Accepted Answer

Credit card expense is recorded by the seller as a fee paid for services provided by the card company. It may be classified as a selling or administrative expense, or deducted from sales as a discount to get net sales.

All of the Following Are Regarding Credit Card Expense Except