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Cornerstone Exercise 5-33 (Algorithmic) Accounting for Credit Card Sales Frank's Tattoos and Body Piercing operates near campus. At the end of a recent day, Frank's
Cornerstone Exercise 5-33 (Algorithmic) Accounting for Credit Card Sales Frank's Tattoos and Body Piercing operates near campus. At the end of a recent day, Frank's cash register included credit card documents for the following sales amounts: MasterCard Visa $756 486 The merchant's charges are 1.8% for MasterCard and 2.1% for Visa. Frank's also had cash sales of $375 and $800 of sales on credit to a local business. Required: Prepare a journal entry to record these sales. If an amount box does not require an entry, leave it blank. Round intermediate calculations and final answers to two decimal places, if required. Cash 375 X Accounts Receivable 800 Service Charge Expense 23.82 x Sales Revenue 1.242) x Record sales
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