Which one of the following general statements about credit cards is correct -

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The credit card discount fee is a fee charged by the credit card company to the merchant for the privilege of accepting their credit cards as a form of payment. This fee is typically a percentage of the total sale and is deducted from the receipts before they are deposited into the bank account. Credit card payments are not entered in the receipts journal, instead, they are recorded in a separate ledger. Credit card receipts are not deposited into the accounts receivable account, as they are not considered to be outstanding balances owed by customers. Credit card sales do involve linked accounts, such as a credit card processing account and a bank account.

Which One of the Following General Statements About Credit Cards