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A company accepts, from one of its customers, Visa credit card as payment for $3,000 worth of services the company performed for the customer. The company is charged a service fee of 2% by the credit card company. What journal entry should the company make to record its credit card sale? Multiple Choice Account Cash Service Fee Expense Service Revenue Account Cash Service Revenue Account Accounts Receivable Service Fee Expense Service Revenue Account Accounts Receivable Service Revenue Debit Debit Debit Debit 2,940 60 2,940 2,940 60 3,000 Credit 3,000 Credit 2,940 Credit 3,000 Credit 3,000

A company accepts, from one of its customers, Visa credit card as payment for $3,000 worth of services the company performed for the customer. The company is charged a service fee of 2% by the credit card company. What journal entry should the company make to record its credit card sale? Multiple Choice Account Cash Service Fee Expense Service Revenue Account Cash Service Revenue Account Accounts Receivable Service Fee Expense Service Revenue Account Accounts Receivable Service Revenue Debit Debit Debit Debit 2,940 60 2,940 2,940 60 3,000 Credit 3,000 Credit 2,940 Credit 3,000 Credit 3,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company accepts, from one of its customers, Visa credit card as payment for $3,000 worth of services the company performed for the customer. The company is charged a service fee of 2% by the credit card company. What journal entry should the company make to record its credit card sale? Multiple Choice O Account Cash Service Fee Expense Service Revenue Account Cash Service Revenue Account Accounts Receivable Service Fee Expense Service Revenue Account Accounts Receivable Service Revenue Debit Debit Debit Debit 2,940 60 2,940 2,940 60 3,000 Credit 3,000 Credit 2,940 Credit 3,000 Credit 3,000
Transcribed Image Text:A company accepts, from one of its customers, Visa credit card as payment for $3,000 worth of services the company performed for the customer. The company is charged a service fee of 2% by the credit card company. What journal entry should the company make to record its credit card sale? Multiple Choice O Account Cash Service Fee Expense Service Revenue Account Cash Service Revenue Account Accounts Receivable Service Fee Expense Service Revenue Account Accounts Receivable Service Revenue Debit Debit Debit Debit 2,940 60 2,940 2,940 60 3,000 Credit 3,000 Credit 2,940 Credit 3,000 Credit 3,000
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