denzel6887
denzel6887
06.03.2020 • 
Business

Advanced Learning uses the net method for handling sales transactions with credit cards. Advanced Learning sells merchandise inventory (ignore Cost of Goods Sold) to a customer for $4,000 on August 1. The customer pays with a third-party credit card. Advanced Learning would record the entry, assuming the card processor assesses a 3% fee and deposits the net amount, as which of the following:Cash 3,880
Credit Card Expense 120
Sales Revenue 4,000

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