Data table Data Table National Express credit card sales ValueCard debit card sales Dairments Requirements $ 9,400 9,000 I 1. Suppose Turning Leaves Continental Breakfast's processor charges a 4% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Turning Leaves Continental Breakfast's processor charges a 4% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.
Data table Data Table National Express credit card sales ValueCard debit card sales Dairments Requirements $ 9,400 9,000 I 1. Suppose Turning Leaves Continental Breakfast's processor charges a 4% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Turning Leaves Continental Breakfast's processor charges a 4% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Po.33.
Transcribed Image Text:Restaurants do a large volume of business by credit and debit cards. Suppose
Turning Leaves Continental Breakfast restaurant had these transactions on January 28, 2024:
(Click the icon to view the transactions.)
Read the requirements.
Requirement 1. Suppose Turning Leaves Continental Breakfast's processor charges a 4% fee
and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record
debits first, then credits. Select the explanation on the last line of the journal entry table.)
Journalize the credit sales net of the fee, first.
Date
Accounts and Explanation
Debit
Credit
Transcribed Image Text:Data table
Data Table
National Express credit card sales
ValueCard debit card sales
Dequirements
Requirements
$ 9,400
9,000
I
1. Suppose Turning Leaves Continental Breakfast's processor charges a 4%
fee and deposits sales net of the fee. Journalize these sales transactions for
the restaurant.
2. Suppose Turning Leaves Continental Breakfast's processor charges a 4%
fee and deposits sales using the gross method. Journalize these sales
transactions for the restaurant.
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