Restaurants do a large volume of business by credit and debit cards. Suppose Spring Garden Salads restaurant had these transactions on January $28$ :

View the transactions.

Read the requirements.

the journal entry table.$)$

Journalize the credit sales net of the fee, first.

Requirements

Suppose Spring Garden Salads' processor charges a $4\%$ fee and deposits

sales net of the fee. Journalize these sales transactions for the restaurant.

Suppose Spring Garden Salads' processor charges a $4\%$ fee and deposits

sales using the gross method. Assume that on January $28,$ the company pays

the fees assessed by the credit card processor. Journalize these sales

transactions for the restaurant.

Transactionssomething is wrong?

The $$

cash in the cash drawer will be $$650$ higher than the amount recorded in the cash register

cash in the cash drawer will be $$650$ lower than the amount recorded in the cash register

the cash reported on the bank statement will be $$650$ higher than the amount recorded in the cash register the cash reported on the bank statement will be $$650$ lower than the amount recorded in the cash register the general ledger will not balance