Please describe and propose the necessary journal entries that capture financial transactions for the following fact patterns. Include discussion of statutory and consolidated financial statements impact in your analysis.

Background:

Stripe initiates its flow of funds when an authorized charge from a UK credit card holder is created through a US merchant. At this moment, Stripe US incurs a liability to the US Stripe merchant, and transmits the charge to the processor$/$acquirer in order to be validated with the credit card issuer $($e$.$g$.$ American Express$).$ After the charge is authorized by the acquirer, Stripe UK will receive funds from the acquirer, net of acquirer fees $(1\mathrm{.}5\%),$ which are used to settle the liability to the merchant, net of Stripe fees $(2\mathrm{.}9\%+30$c per transaction based on Stripe$$s standard terms of services$).$ The funds will then pass from Stripe UK to Stripe US$,$ who will payout to US merchants eventually.

Transactions:

Charge date: $5/2/2024$

Receive fund date: $5/4/2024($Stripe transmits the charge to the acquirer for validation on the same day the authorized charge is created. The acquirer takes $1$ day to confirm the charge has been validated and $1$ more day to send funds to Stripe$)$

User payout date: $5/3/2024($payment to the merchant occurs $1$ day prior to receiving the related funds from the acquirer$)$

Charge amount: $$100$

Stripe US bank account beginning balance $$200$

Stripe UK bank account beginning balance $$150$Please describe and propose the necessary journal entries that capture financial transactions for the following fact patterns. Include discussion of statutory and consolidated financial statements impact in your analysis.

Background:

Stripe initiates its flow of funds when an authorized charge from a UK credit card holder is created through a US merchant. At this moment, Stripe US incurs a liability to the US Stripe merchant, and transmits the charge to the processor$/$acquirer in order to be validated with the credit card issuer $($e$.$g$.$ American Express$).$ After the charge is authorized by the acquirer, Stripe UK will receive funds from the acquirer, net of acquirer fees $(1\mathrm{.}5\%),$ which are used to settle the liability to the merchant, net of Stripe fees $(2\mathrm{.}9\%+30$c per transaction based on Stripe$$s standard terms of services$).$ The funds will then pass from Stripe UK to Stripe US$,$ who will payout to US merchants eventually.

Transactions:

Charge date: $5/2/2024$

Receive fund date: $5/4/2024($Stripe transmits the charge to the acquirer for validation on the same day the authorized charge is created. The acquirer takes $1$ day to confirm the charge has been validated and $1$ more day to send funds to Stripe$)$

User payout date: $5/3/2024($payment to the merchant occurs $1$ day prior to receiving the related funds from the acquirer$)$

Charge amount: $$100$

Stripe US bank account beginning balance $$200$

Stripe UK bank account beginning balance $$150$