Restaurants do a large volume of business by credit and debit cards. Suppose Summer comma Sand comma and Castles Resort

Summer,Sand,andCastlesResort restaurant had these transactions on January28, 2016

2016:

National Express credit card sales

$

10,800

ValueCard debit card sales

10,000

Requirements

1.

Suppose Summer comma Sand comma and Castles Resort's

Summer,Sand,andCastlesResort's processor charges a 2

2% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant.

2.

Suppose Summer comma Sand comma and Castles Resort's

Summer,Sand,andCastlesResort's processor charges a 2

2% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.

Requirement 1. Suppose Summer comma Sand comma and Castles Resort's

Summer,Sand,andCastlesResort's processor charges a 2

2% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debitsfirst, then credits. Select the explanation on the last line of the journal entrytable.)