Question
On May 10, Sheridan Company sold merchandise for $5,500 and accepted the customers Best Business Bank MasterCard. At the end of the day, the Best
On May 10, Sheridan Company sold merchandise for $5,500 and accepted the customers Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the companys bank account. Best Business Bank charges a 4.40% service charge for credit card sales. Prepare the entry on Sheridan Company's books to record the sale of merchandise.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th edition
1118096894, 978-1-11921511, 978-1118096895
