Yellowstone Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred.
Jan. 15 Made Yellowstone credit card sales totaling $28000. (There were no balances prior to January 15.)
20 Made Visa credit card sales (service charge fee 3%) totaling $5000.
Feb. 10 Collected $17000 on Yellowstone credit card sales.
15 Added finance charges of 1% to Yellowstone credit card balance.
Instructions
(a) Journalize the transactions for Yellowstone Stores.
(b) Indicate the statement presentation of the interest revenue and the credit card service charge expense for Yellowstone Stores.

Question

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The Answer of Yellowstone Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred.
Jan. 15 Made Yellowstone credit card sales totaling $28000. (There were no balances prior to January 15.)
20 Made Visa credit card sales (service charge fee 3%) totaling $5000.
Feb. 10 Collected $17000 on Yellowstone credit card sales.
15 Added finance charges of 1% to Yellowstone credit card balance.
Instructions
(a) Journalize the transactions for Yellowstone Stores.
(b) Indicate the statement presentation of the interest revenue and the credit card service charge expense for Yellowstone Stores.

Yellowstone Stores Accepts Both Its Own and National Credit Cards