Regarding the gross method of handling credit and debit card transactions, which of the following statements is correct?

Regarding the gross method of handling credit and debit card transactions, which of the following statements is correct?

A.

On the date of sale, the Sales Revenue account is credited for the amount of sale less the processing fee.

B.

The processing fees for all transactions processed for the month are deducted from the company's bank account, often on the last day of the month.

C.

The journal entry on the date of sale is identical to a journal entry made for a sale on account.

D.

The cash received equals sales plus the fee assessed by the card processing company.