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Accounting for Credit Card Sales Jarrod's Meat Shop doubles as a butcher shop and a sandwich shop that sells to both individuals and a
Accounting for Credit Card Sales Jarrod's Meat Shop doubles as a butcher shop and a sandwich shop that sells to both individuals and a nearby hospital system. On a particular day, Jarrod's had cash sales of $450, credit sales of $600, sales on MasterCard of $657, and sales on Visa of $923. The sales on credit cards incur merchant charges of 1.6% for MasterCard and 1.9% for Visa. Required: Prepare a journal entry to record these sales. If an amount box does not require an entry, leave it blank. Round intermediate calculations and final answers to two decimal places. Cash Accounts Receivable Service Charge Expense Sales Revenue 450 X 600 1,551.95 X 28.05 X Record sales
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