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On May 10, Renn Company sold merchandise for $3,700 and accepted the customer's First Business Bank MasterCard. At the end of the day, the First
On May 10, Renn Company sold merchandise for $3,700 and accepted the customer's First Business Bank MasterCard. At the end of the day, the First Business Bank MasterCard receipts were deposited in the company's bank account. First Business Bank charges a 3.4% service charge for credit card sales. Prepare the entry on Renn Company's books to record the sale of merchandise. (Round answers to 0 decimal places, e.g. 825. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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