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The transaction to record a credit card sale of $10,000 less a 2% fee is as follows: Dr Cash $9,800 Dr Credit card fee
The transaction to record a credit card sale of $10,000 less a 2% fee is as follows: Dr Cash $9,800 Dr Credit card fee expense $200 Cr Sales revenue $10,000 Your company made a loan to Ice Company on a one- year 15% bill on 1 January 2017. The journals to record the loan $20,000 is made and accrued interest revenue at year end (30 June 2017) in the perspective of your company are as follows: 1/1/2017 Dr Bill receivable $20,000 Cr Cash $20,000 30/6/17 Dr Interest receivable $1,500 Cr Interest revenue $1,500 Note that the interest revenue is derived from how many months that have lapsed since the loan is made. Now, let's change the data of the question and the question is restated as follows, The transaction to record a credit card sale of $11872 less a 2% fee is as follows: Dr Cash $?? Dr Credit card fee expense $ X Cr Sales revenue $ 11872 Your company made a loan to Ice Company on a one- year 16% bill on 1/8/2016. The journals to record the loan $19445 is made and accrued interest revenue at year end (30 June 2017) in the perspective of your company are as follows: 1/1/2017 Dr Bill receivable $ Y Cr Cash $ Y 30/6/17 Dr Interest receivable $ Z Cr Interest revenue $ Z Type in the value of the sum of X. Y and Z in the answer space below.
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