Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $4,900 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $4,900; credit Sales $4,900 Debit Accounts Receivable $4,900; credit Sales $4,900 O Debit Cash $5,145.00; credit Credit Card Expense $245.00; credit Sales $4,900 Debit Cash $4,655.00; debit Credit Card Expense $245.00; credit Sales $4,900

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a
5.0% charge on sales for using its card. On June 28, Jervis had $4,900 in NB Card credit sales. What entry
should Jervis make on June 28 to record the deposit?
Multiple Choice
Debit Cash $4,900; credit Sales $4,900
Debit Accounts Receivable $4,900; credit Sales $4,90O
Debit Cash $5,145.00; credit Credit Card Expense $245.00; credit Sales $4,900
Debit Cash $4,655.00; debit Credit Card Expense $245.00; credit Sales $4,900
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Transcribed Image Text:Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $4,900 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $4,900; credit Sales $4,900 Debit Accounts Receivable $4,900; credit Sales $4,90O Debit Cash $5,145.00; credit Credit Card Expense $245.00; credit Sales $4,900 Debit Cash $4,655.00; debit Credit Card Expense $245.00; credit Sales $4,900 < Prev 16 of 20 Next 1069 MAR 15 étv MacBook Air 80 DII DD F2 F3 F4 F5 F6 F7 F8 23 24 2 4 7 8. 9 W R T Y < cO 田
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