B Joseph Anderson purchases books from Book Bramble Ltd. for $1200, using his Royal Bank VISA card. The service fee the bank charges Book Bramble is 3%. The entry made to record the transaction by Book Bramble is Accounts Receivable-VISA Credit Card Expense Sales Cash Sales Cash Credit Card Expense 1164 36 1200 1164 26 1200 1200

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.