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Acme Company has an agreement with a major credit card company that calls for cash to be received immediately upon deposit of Acme customers' credit
Acme Company has an agreement with a major credit card company that calls for cash to be received immediately upon deposit of Acme customers' credit card sales receipts. The credit card company receives 3.5% of card sales as its fee. If Acme has $2,000 in credit card sales, which of the following statements are true?
a.Acme credits Sales $1,930.
b.Acme debits Accounts Receivable - Credit Card Co $2,000.
c.Acme debits Cash $1,930.
d.Acme debits Cash $2,000.
e.Acme debits Accounts Receivable - Credit Card Co $1,930.
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