Question
Restaurants do a large volume of business by credit and debit cards. Suppose Spring Garden Salads restaurant had the transactions on January 28,2024 : (
Restaurants do a large volume of business by credit and debit cards. Suppose Spring Garden Salads restaurant had the transactions on January 28,2024 : (
National Express credit card sales | $10,800 |
---|---|
ValueCard debit card sales | 5,000 |
.) Read the requirements.
Requirement 1. Suppose Spring Garden Salads' processor charges a 6% 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.)
Now journalize the debit card sales net of the fee
Requirement 2. Suppose Spring Garden Salads' processor charges a 6% fee and deposits sales using the gross method. Journalize these sale transactions for the restaurant
Lastly, journalize the debit sales using the gross method.
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