If Abby, Inc. sells items to a customer who uses a credit card for $1300, and there is a credit card fee of 2.5%, Abby will record a(n) : (Round your final answer to the nearest dollar.)
A) credit to Sales Revenue for $1267.5.
B) debit to Accounts Receivable for $1267.5.
C) debit to Sales Expense for $32.5.
D) debit to Credit Card Discount Expense for $32.5.
Correct Answer:
Verified
Q14: When a merchant sells merchandise and lets
Q122: Days' sales outstanding can be computed in
Q124: The current ratio is a more stringent
Q126: Ratios are used only by company management,and
Q134: The quick ratio and the day's sales
Q159: The Watertown Bank lent Sandy's Pastry Store
Q160: On October 1, 2017, the Early Bank
Q163: Selling accounts receivable typically:
A)decreases total assets and
Q168: Which of the following is a CORRECT
Q169: Smart Company sells office furniture for $3,000
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents