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Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on the amount of receivables sold? Account Titles and Explanation Debit Credit

Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on the amount of receivables sold? Account Titles and Explanation Debit Credit

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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Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% 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.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on the amount of receivables sold? Account Titles and Explanation Debit Credit
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