Presented below are two independent transactions. (a) Si Charles Restaurant accepted a VISA card in payment oi

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Presented below are two independent transactions.

(a) Si Charles Restaurant accepted a VISA card in payment oi a $200 lunch bill. The bank charges ;i 4",. fee. What entry should St. Charles make'.'

(I>) Marge Company sold its accounts receivable of $N().(XX). What entry should Marge make.

given .i service charge of 3% on the amount of receivables sold?

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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