Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

40 Mackenzie Company said $350 of merchandise to a customer who used a Regional Bank credit card Regional Bank decocts 4,0% service charge for sales

image text in transcribed
40 Mackenzie Company said $350 of merchandise to a customer who used a Regional Bank credit card Regional Bank decocts 4,0% service charge for sales on its credit cards Mackenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately The journal entry to record this sale transaction would be Multe Choice Debat Cash of $300 and credit Accounts Receive Regional $380 Debit Cash 5.240 debit Credit Card Expense $15.20 and Co Sales 5380 2 Quiz Debit Cash of $380 and credit as $380. Debit Cash $364 30 and credit Sales $364 80 Debit Accounts Receivable-Regional $364.80 debit Credit Card Expense 515.20 and credit Sales 5380 COM

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Changing Face Of American BankingDeregulation, Reregulation, And The Global Financial System

Authors: Ranajoy Ray Chaudhuri

3rd Edition

1137365811, 9781137365811

More Books

Students also viewed these Accounting questions

Question

2. Answer the question, Who should do the appraising?pg 87

Answered: 1 week ago

Question

1. Explain the purpose of performance appraisal.pg 87

Answered: 1 week ago