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Restaurants do a large volume of business by credit and debit cards. Suppose European Caviar Importers restaurant had these transactions on January 28, 2016: National

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Restaurants do a large volume of business by credit and debit cards. Suppose European Caviar Importers restaurant had these transactions on January 28, 2016: National Express credit card sales $ 11,800 ValueCard debit card sales 9,000 Requirements 1. Suppose European Caviar Importers' processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose European Caviar Importers' processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant. Requirement 1. Suppose European Caviar Importers' processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Debit Credit

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