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
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F746c528c-1bb1-4b60-ba79-65bd8df817d1%2F56dba93b-9ce8-417d-bdd3-3b7cce4c63f5%2Fwads7xw_processed.png&w=3840&q=75)
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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