Many retailers accept bank credit cards. Review the statements below and identify the statement that is incorrect regarding bank credit cards.
A) The Cash account will be debited for the total amount involved in the daily deposit of the credit card sales slips.
B) Accounts Receivable will be debited when recording bank credit card sales.
C) The most widely accepted bank credit cards are MasterCard and Visa.
D) Banks charge the business a fee, called a discount for processing the sale.
Correct Answer:
Verified
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