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Eastland Company collected payment from the National Express Credit Card Company (nonbank) for sales of $1,000, less a 4% credit card collection fee. The proper

Eastland Company collected payment from the National Express Credit Card Company (nonbank) for sales of $1,000, less a 4% credit card collection fee. The proper journal entry to record this transaction would include :

a credit to service charge for $40.

a debit to cash for $1,000.

a debit to accounts receivable for $960

a credit to sales for $1,000

None of these

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