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Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 4% 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 4% charge on sales for using its card. On May 26, Brinker had $6,100 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? Mackenzie Company sold $200 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 4.5% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Giorgio Italian Market bought $7,200 worth of merchandise from Food Suppliers and signed a 30-day, 7% promissory note for the $7,200. Food Supplier's journal entry to record the sales transaction is: Jasper makes a $47,000, 90-day, 7.5% cash loan to Clayborn Company. The amount of interest that Jasper will collect on the loan is: (Use 360 days a year.) Defy Company makes a $80,000, 60-day, 15% cash loan to Ryan Company. The note and interest to be collected at maturity is: (Use 360 days a year.) Jervis sells $4,100 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 4% factoring fee. What entry should Jervis make to record the transaction? Jasper makes a $36,000, 90-day, 9% cash loan to Clayborn Company. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
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