Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price

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Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price of $7 per deck to Padma Singh. The cost to Fun Cards is $4 per deck. Prepare a journal entry under each of the following conditions. Assume Money Plus charges a 2% fee for each sales transaction using its card.
A. Payment is made using a credit, in-house account.
B. Payment is made using a Money Plus credit card.

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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