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PLEASE I NEED ASAP Coronado Retailers accepted $85000 of Maxibank Visa credit card charges for merchandise sold on July 1. Maxibank charges 2% for its
PLEASE I NEED ASAP
Coronado Retailers accepted $85000 of Maxibank Visa credit card charges for merchandise sold on July 1. Maxibank charges 2% for its credit card use. The entry to record this transaction by Coronado Retailers will include a credit to Sales Revenue of $85000 and a debit(s) to
Accounts Receivable $85000.
Cash $83300 and Service Charge Expense $1700.
Accounts Receivable $83300 and Service Charge Expense $1700.
Cash $83300 and Interest Expense $1700.
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