Question
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 2.5% charge on sales for using its card. On May 26,
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 2.5% charge on sales for using its card. On May 26, Brinker had $6,400 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? |
A.) Debit Cash $6,240; debit Credit Card Expense $160; credit Sales $6,400.
B.) Debit Accounts Receivable $6,240; debit Credit Card Expense $160; credit Sales $6,400.
C.) Debit Cash $6,400; credit Sales $6,400.
D.) Debit Cash $6,560; credit Credit Card Expense $160; credit Sales $6,400.
E.) Debit Accounts Receivable $6,400; credit Sales $6,400.
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