MacKenzie Company sold $220 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 5.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice Debit Cash $209.00; debit Credit Card Expense $11.00 and credit Sales $220. Debit Cash of $220 and credit Accounts Receivable-Regional $220. Debit Cash of $220 and credit Sales $220. О Debit Cash $209.00 and credit Sales $209.00. О Debit Accounts Receivable-Regional $209.00; debit Credit Card Expense $11.00 and credit Sales $220.
MacKenzie Company sold $220 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 5.0% fee for sales on its credit cards. The journal entry to record this sales transaction would be: Multiple Choice Debit Cash $209.00; debit Credit Card Expense $11.00 and credit Sales $220. Debit Cash of $220 and credit Accounts Receivable-Regional $220. Debit Cash of $220 and credit Sales $220. О Debit Cash $209.00 and credit Sales $209.00. О Debit Accounts Receivable-Regional $209.00; debit Credit Card Expense $11.00 and credit Sales $220.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...
Related questions
Question
![MacKenzie Company sold $220 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 5.0% fee for sales on
its credit cards. The journal entry to record this sales transaction would be:
Multiple Choice
Debit Cash $209.00; debit Credit Card Expense $11.00 and credit Sales $220.
Debit Cash of $220 and credit Accounts Receivable-Regional $220.
Debit Cash of $220 and credit Sales $220.
О
Debit Cash $209.00 and credit Sales $209.00.
О
Debit Accounts Receivable-Regional $209.00; debit Credit Card Expense $11.00 and credit Sales $220.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30087330-3f61-40cc-b404-55ea18b96426%2F972c5214-a9e8-47c0-b918-b3f623795eff%2Fk97zyxq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:MacKenzie Company sold $220 of merchandise to a customer who used a Regional Bank credit card. Regional Bank charges a 5.0% fee for sales on
its credit cards. The journal entry to record this sales transaction would be:
Multiple Choice
Debit Cash $209.00; debit Credit Card Expense $11.00 and credit Sales $220.
Debit Cash of $220 and credit Accounts Receivable-Regional $220.
Debit Cash of $220 and credit Sales $220.
О
Debit Cash $209.00 and credit Sales $209.00.
О
Debit Accounts Receivable-Regional $209.00; debit Credit Card Expense $11.00 and credit Sales $220.
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