Chauky's Catering accepted a bank-issued credit card in payment of a $4,000 sales transaction. Chauky's bank charges 3% to process the transaction. The journal entry to record the sales transaction will include:
A) a credit to Sales Revenue for $3,880.
B) a debit to Cash for $4,000.
C) a debit to Financing Expense for $120.
D) all of these.
Correct Answer:
Verified
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