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Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Tastee Restaurant accepted a Visa card
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Tastee make? (b) Martin Company sold its accounts receivable of $65,000. What entry should Martin make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and Explanation (a) Cash Service Charge Expense, Sales Revenue (b) Cash Service Charge Expense Accounts Receivable Debit 200 8 63050 650 Credit 200 65000
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