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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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