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URGENT PLEASE Archer allows customers to use bank credit cards to charge purchases. The bank used by Archer processes all bank credit cards in exchange
URGENT PLEASE
Archer allows customers to use bank credit cards to charge purchases. The bank used by Archer processes all bank credit cards in exchange for a 3% processing fee. All credit card receipts deposited are credited to the company account on the day of deposit. Assume that on August 10, Archer sold and deposited $5,200 worth of bank credit card receipts. The cost of sales is $2,800. Record this transaction in the general journal. When finished upload your general journal to thisStep by Step Solution
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