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Mackenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales
Mackenzie Company sold $460 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits Mackenzie's account immediately when sales are made. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash of $460 and credit Accounts Receivable $460. Debit Cash $453.10 and credit Sales $453.10. Debit Accounts Receivable $460 and credit Sales $460. o Debit Cash of $460 and credit Sales $460. O O Debit Cash $453.10; debit Credit Card Expense $6.90 and credit Sales $460
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