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Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had $11,000 of credit and debit card sales on April 30, 2015.

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Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had $11,000 of credit and debit card sales on April 30, 2015. 1. Suppose Peter's processor charges a 1% fee and deposits sales net of the fee. Journalize the sale transaction for the restaurant. 2. Suppose Peter's processor charges a 1% fee and deposits sales using the gross method. Journalize the sale transaction for the restaurant. Journalize the sale transaction net of the fee for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Credit Date Debit Apr. 30

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