Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 5% charge on sales for using its card. On May 26,Brinker had $5,500 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?Multiple ChoiceDebit Accounts Receivable $5,225; debit Credit Card Expense $275; credit Sales $5,500.ОDebit Cash $5,500; credit Sales $5,500.ODebit Cash $5,775; credit Credit Card Expense $275; credit Sales $5,500.Debit Accounts Receivable $5,500; credit Sales $5,500.ODebit Cash $5,225; debit Credit Card Expense $275; credit Sales $5,500.

Detailed explanation:Journal entry for the deposit :Record increase in asset by debit cash 5,225 (…

Answered: Brinker accepts all major bank credit…

Principles of Accounting Volume 1

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ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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