A retailer that makes credit card sales:

Select one:

Absorbs any losses on uncollectible credit card accounts

Records such sales as a credit to Cash or Accounts Receivable, a debit to Credit Card Fees Expense, and a credit to Sales Revenue

Is charged a fee ranging from 1% to 5% of the amount of each credit card sale

On which financial statement and at what amount are accounts receivable reported?

Select one:

Income statement at the amount written off

Balance sheet at the amount owed by customers

Balance sheet at the net realizable value

Income statement at the net uncollectible amount