We sell to a customer paying with Visa and the fee is 2%.Part of the transaction would include a debit to:
A)Sales Revenue.
B)Sales Discount.
C)Accounts Receivable.
D)Credit Card Discount Expense.

Question

Quizplus · Accepted Answer

The 2% fee charged by Visa is a credit card discount, which is a cost of doing business. Therefore, the transaction should include a debit to Credit Card Discount Expense.

We Sell to a Customer Paying with Visa and the Fee