YariDelOrbeez115
26.11.2019 •
Business
Acme company has an agreement with a major credit card company which calls for cash to be received immediately upon deposit of acme customers' credit card sales receipts. the credit card company receives 3.5% of card sales as its fee. if acme has $2,000 in credit card sales, which of the following statements is true? a. acme debits cash $2,000b. acme debits cash $1,930c. acme debits accounts receivable - credit card co $2,000d. acme debits accounts receivable - credit card co $1,930e. acme credits sales $1,930
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Ответ:
b. Acme debits Cash $1,930
Explanation:
Before passing the journal entry, first we have to do the calculations which his shown below
= Credit card sales - Credit card sales × fee percentage
= $2,000 - $2,000 × 3.5%
= $2,000 - $70
= $1,930
The journal entries are shown below:
Cash A/c Dr $1,930
To Sales A/c $1,930
(Being cash is received after applying the fee percentage)
Ответ:
the answer is either b or c i believe