Casper Company Sold Inventory of $5,000 and Accepted Payment with a Credit

Casper Company sold inventory of $5,000 and accepted payment with a credit card.The credit card charges Casper Company a 2% fee on credit card sales.Casper uses the periodic inventory system.Which of the following journal entries reflects the sale made by Casper Company?

A) $\begin{array}{lll}\text { Cash } & \$ 5,000 & \\\quad \text { Sales } & &\$ 5,000 & \\\end{array}$

B) $\begin{array}{lccc}\text { Cash } & \$ 4,900 & \\\text { Cash discounts for credit cards } &\$ 100 & \\\quad \text { Sales } & &\$ 5,000 \\\end{array}$

C) $\begin{array}{lccc}\text { Cash discounts for credit cards } & \$ 4,900 \\\quad \text { Sales } & &\$ 4,900& \\\end{array}$

D) $\begin{array}{lccc}\text { Accounts receivable } & \$ 5,000 \\\quad \text { Sales } & & \$ 5,000\\\end{array}$

E) $\begin{array}{lccc}\text { Accounts receivable } & \$ 4,900& \\\text { Trade discounts for credit cards } &\$100 & \\\quad \text { Sales } & & \$ 5,000 \\\end{array}$