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Kathy's Crafts makes many bank credit card sales during the day. Which of the following is correct regarding the journal entry to record the sale?
Kathy's Crafts makes many bank credit card sales during the day. Which of the following is correct regarding the journal entry to record the sale?
a. The entry would be similar to a sale on account because the cash is not available until the customer pays its credit card bill.
b. It would be exactly the same as a cash sale.
c. It would be treated as a cash sale less a processing fee.
d. The sale would not be recorded until the customer pays its credit card bill.
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