intermediate accounting Credit Sales Receivables

The Colleco Supermarket completes the following transactions relating to its credit card sales during June 2020: Total sales charged by customers are as follows: Citibank P2,500,000 BDO 1,800,000 Metrobank 1,500,000 Credit card receipts charged to BDO are credited directly to Colleco, net of 2% service charge. dr. cash in bank dr. cash Deposits made by banks to the account of Colleco for credit card sales, net of 2% service charge: Citibank P2, 156,000 Metrobank 1,078,000 REQUIRED: Journalize the foregoing transactions in the books of Colleco Supermarket. The Colayco Company completed the following transactions during the year 2020