A customer purchased a $2,000 item at ApplianceWorld,paying with a credit card.ApplianceWorld is charged a 2% fee by the credit card company.When recording this sale,ApplianceWorld would:

Question

Quizplus · Accepted Answer

ApplianceWorld would credit Sales Revenue for the full amount of $2,000, as this represents the total sales price of the item. The credit card fee is recorded separately as an expense.

A Customer Purchased a $2,000 Item at ApplianceWorld,paying with a Credit