Required information$3054Knowledge Check 01Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upondeposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has$4,000 in credit card sales on January 1.Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering thedollar amounts in the debit or credit columns.View transaction listJournal entry worksheet<1Messing Company has an agreement with a third-party credit card company,which calls for cash to be received immediately upon deposit of customers'credit card sales receipts. The credit card company receives 3.5 percent ofcard sales as its fee. Messing has $4,000 credit card sales on January 1.Note: Enter debits before credits.DateJanuary 01 CashRGeneral JournalT6--H4-Debit< PrevUCredit8Sof 18(##9Next >D11O

Credit Card Expense - Credit Card Expenses are the Expense incurred by the company due to immediate…

Knowledge Check 01 Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon deposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has $4,000 in credit card sales on January 1. Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering t dollar amounts in the debit or credit columns.

Knowledge Check 01 Messing Company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon deposit of customers' credit card sales receipts. The credit card company receives 3.5 percent of card sales as its fee. Messing has $4,000 in credit card sales on January 1. Prepare the January 1 journal entry for Messing Company by selecting the account names from the drop-down menus and entering t dollar amounts in the debit or credit columns.

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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