Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Tony's Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 2% fee. What entry should Tony's make? 3. b. Blue Company sold its accounts receivable of $86,000. What entry should Blue make, given a service charge of 3% on the amount of receivables sold? Account Titles and Explanation Debit Credit 1000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually)
Tony's Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 2% fee. What entry should Tony's
make?
a.
b.
Blue Company sold its accounts receivable of $86,000. What entry should Blue make, given a service charge of 3% on the
amount of receivables sold?
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Tony's Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 2% fee. What entry should Tony's make? a. b. Blue Company sold its accounts receivable of $86,000. What entry should Blue make, given a service charge of 3% on the amount of receivables sold? Account Titles and Explanation Debit Credit
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