Restaurants do a large volume of business by credit and debit cards. Suppose

European Caviar Importers

restaurant had these transactions on January 28,

2018:

National Express credit card sales	$11,100
ValueCard debit card sales	9,000

.

Requirement 1. Suppose

European Caviar Importers'

processor charges a

4%

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.

Suppose

European Caviar Importers'

processor charges a

4%

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