Clothesall,Inc. ,a retailer,accepts payment through credit cards.During August,credit card sales amounted to $12,000.The processor charges a 3% fee.Assume that the processor deposits the net amount.Prepare the journal entry for card sales.(Ignore cost of goods sold. )

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The Answer of Clothesall,Inc. ,a retailer,accepts payment through credit cards.During August,credit card sales amounted to $12,000.The processor charges a 3% fee.Assume that the processor deposits the net amount.Prepare the journal entry for card sales.(Ignore cost of goods sold. )