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Jere Retailers accepted $57,000 of Maxibank Visa credit card charges for merchandise sold on July 1. Maxibank charges 3% for its credit card use. The

Jere Retailers accepted $57,000 of Maxibank Visa credit card charges for merchandise sold on July 1. Maxibank charges 3% for its credit card use. The entry to record this transaction by Jere Retailers will include a credit to Sales Revenue of $57,000 and a debit(s) to Accounts Receivable $55,290 and Service Charge Expense $1,710. Cash $55,290 and Interest Expense $1,710. Cash $55,290 and Service Charge Expense $1,710. Accounts Receivable $57,000

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