The fees charged businesses by banks on credit card transactions can be shown on the income statement as:
A)An administrative expense
B)A discount from revenue used in determining net sales.
C)A selling expense.
D)All of these answers are correct.
E)None of these answers is correct.

Question

Quizplus · Accepted Answer

Fees charged by banks on credit card transactions are considered a selling expense because they are incurred as a result of generating sales revenue.

The Fees Charged Businesses by Banks on Credit Card Transactions