Presented below are two independent transactions. LO4 (a) Raja Restaurant accepted a VISA card in payment of

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Presented below are two independent transactions. LO4

(a) Raja Restaurant accepted a VISA card in payment of a $200 lunch bill. The bank charges a 3 percent fee. What entry should Raja make?

(b) Wendy Company sold its accounts receivable of $80,000. What entry should Wendy make, given a service charge of 3 percent on the amount of receivables sold?

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Hospitality Financial Accounting

ISBN: 9780471270553

1st Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel, Agnes L DeFranco

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Question Posted: Jul 08, 2024 02:09 AM

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Presented below are two independent transactions. LO4 (a) Raja Restaurant accepted a VISA card in payment of

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Hospitality Financial Accounting

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