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Brief Exercise 8-7 Presented below are two independent transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. (a) Tony's

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Brief Exercise 8-7 Presented below are two independent transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. (a) Tony's Restaurant accepted a Visa card in payment of a $175 lunch bill. The bank charges a 4% foe. What entry should Tony's make? (b) Larkin Company sold its accounts receivable of $60,000. What entry should Larkin make, given a service charge of 3% on the amount of receivables sold? Account Titles and Explanation Debit Credit I (b) Click if you would like to Show Work for this question: Open Show Work

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