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Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a)Cullumber Company accepted a Visa card in payment
Consider these transactions:(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(a)Cullumber Company accepted a Visa card in payment of a$1,700lunch bill. The bank charges a4% fee. What entry should Cullumber Company make?(b)Sheffield Corp. sold its accounts receivable of $61,600. What entry should Sheffield Corp. make, given a service charge of4% on the amount of receivables sold?
No. Account Titles and Explanation
Debit Credit
(a)
(b)
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