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Luna Company accepted credit cards in payment for $6,000 of services performed during July Year 1 . The credit card company charged Luna a 4

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Luna Company accepted credit cards in payment for $6,000 of services performed during July Year 1 . The credit card company charged Luna a 4 percent service fee; it paid Luna as soon as it recelved the invoices. Required a. Prepare the general journal entry to record the service revenue. b. Prepare the general joumal entry for the collection of the receivable from the credit card company. c. Based on this information alone, what is the amount of net income earned during the month of July? Complete this question by entering your answers in the tabs below

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