Question
Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 3% 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 3% charge on sales for using its card. On May 26, Brinker had $6,700 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?
Multiple Choice
Debit Accounts Receivable $6,499; debit Credit Card Expense $201; credit Sales $6,700.
Debit Cash $6,499; debit Credit Card Expense $201; credit Sales $6,700.
Debit Cash $6,700; credit Sales $6,700.
Debit Cash $6,901; credit Credit Card Expense $201; credit Sales $6,700.
Debit Accounts Receivable $6,700; credit Sales $6,700.
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