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As a percentage, what collection fee is American Express charging Simone? Round to the nearest whole number if needed. % Credit Card Sales Simone's Ristorante
As a percentage, what collection fee is American Express charging Simone? Round to the nearest whole number if needed. %
Credit Card Sales Simone's Ristorante accepts American Express@ credit cards from its customers. Simone's is closed on Sundays and on that day records the weekly sales and remits the credit card receipts to American Express. For the week ending on Sunday, June 12, cash sales totaled $2,280 and credit card sales amounted to $3,350. On June 15, Simone's received $3,210 from American Express as payment for the credit card receipts. Prepare the necessary journal entries on June 12 and June 15. How does this entry affect the accounting equation? Indicate the effect on financial statement items by selecting for decrease (or negative effect), "+" for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. Journal Description June 12 Debit Credit Balance Sheet Liabilities Stockholders' Equity Revenues Income Statement Expenses How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Date Journal Description Debit Credit Balance Sheet Liabilities Stockholders' Equity Revenues Income Statement Expenses Income Income As a percentage, what collection fee is American Express charging Simone? Round to the nearest whole number if needed.
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