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Many retailers accept bank credit cards. Review the statements below and identify the statement that is incorrect regarding bank credit cards. Accounts Receivable will be
Many retailers accept bank credit cards. Review the statements below and identify the statement that is incorrect regarding bank credit cards. Accounts Receivable will be debited when recording bank credit card sales. Banks charge the business a fee, called a discount for processing the sale. The Cash account will be debited for the total amount involved in the daily deposit of the credit card sales slips. The most widely accepted bank credit cards are MasterCard and Visa
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