Josh Borke buys $700 of sports equipment from Get Moving Sports using his VISA Chase Credit Card. Chase charges a service fee of 3%. Get Moving Sports' journal entry includes a
A) debit to Cash of $700.
B) credit to Sales Revenue of $679.
C) debit to Accounts Receivable of $679.
D) debit to Service Charge Expense of $21.
Correct Answer:
Verified
Q32: A sales invoice provides evidence of
A) a
Q33: The seller credits Sales Discounts when the
Q34: The purchaser of merchandise debits Sales Discounts
Q35: The entries to record a cash sale
Q36: The entries to record a credit sale
Q38: If the seller pays freight charges to
Q39: Recording a credit sale requires
A) only one
Q40: Recording a cash sale requires
A) only one
Q85: A sales invoice is a source document
Q93: Sales revenue
A) may be recorded before cash
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