Consider these transactions: (a) St. Pierre Restaurant accepted a VISA card in payment of a ($ 100)
Question:
Consider these transactions:
(a) St. Pierre Restaurant accepted a VISA card in payment of a \(\$ 100\) lunch bill. The bank charges a 3\% fee. What entry should St. Pierre make?
(b) Mayfield Company sold its accounts receivable of \(\$ 70,000\). What entry should Mayfield make, given a service charge of \(3 \%\) on the amount of receivables sold?
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471169192
1st Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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