Melody, Inc., accepts a national credit card. The collection fee is 6%. If credit card sales are $500, the correct journal is a. Accounts receivables 470             Sales                                 470 b. Accounts receivables 470     Credit card expense     30              Sales                                500 c. Accounts receivables 500               Sales                               500 d. Accounts receivable   500                Credit card discount      30                 Sales                                470

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Melody, Inc., accepts a national credit card. The collection fee is 6%. If credit card sales are $500, the correct journal is

a. Accounts receivables 470

            Sales                                 470

b. Accounts receivables 470

    Credit card expense     30

             Sales                                500

c. Accounts receivables 500

              Sales                               500

d. Accounts receivable   500

               Credit card discount      30

                Sales                                470

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