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ABC Company sold $ 2 , 0 0 0 in advertising services to XYZCompany. For simplicity, assume the sale, provision of services, and payment all

ABC Company sold $2,000 in advertising services to XYZCompany. For simplicity, assume the sale, provision of services, and payment all occurred on the same day. XYZCo. made payment by credit card. ABC Co. pays credit card processing fees of 2% on each transaction. Record the journal entries for both ABC Co. and XYZ Co.

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