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Joe Sanji purchases books from Canada Books Co. for $1,000, using his Royal Bank Financial Group VISA card. The service fee the bank charges Canada

Joe Sanji purchases books from Canada Books Co. for $1,000, using his Royal Bank Financial Group VISA card. The service fee the bank charges Canada Books is 3%. The entry made to record the transaction by Canada Books is

1) Cash

1,000

Sales1,000

2) Cash

970Credit Card Expense

30Sales1,000

3) Cash970

Sales970

4) Accounts ReceivableVISA 970970Credit Card Expense30Sales1,000

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