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Boone Company accepted credit-card payments of $6,000 for services rendered to its customers. The credit-card company charges Boone Company a 4% fee for handling the
Boone Company accepted credit-card payments of $6,000 for services rendered to its customers. The credit-card company charges Boone Company a 4% fee for handling the transactions. Which of the following is the correct journal entry to record these credit-card transactions? |
Debit | Credit | |
Accounts ReceivableCredit Card Co. | 5,760 | |
Service Revenue | 5,760 |
Debit | Credit | |
Cash | 5,760 | |
Service Revenue | 5,760 |
Debit | Credit | |
Accounts ReceivableCredit Card Co. | 5,760 | |
Credit Card Expense | 240 | |
Service Revenue | 6,000 |
Debit | Credit | |
Accounts ReceivableCredit Card Co. | 6,000 | |
Credit Card Expense | 240 | |
Service Revenue | 5,760 |
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