On May 10, Blossom Company sold merchandise for $4,500 and accepted the customer's Best Business Bank MasterCard. At the e of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charge a 3.4% service charge for credit card sales. Prepare the entry on Blossom Company's books to record the sale of merchandise. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation May 10 Accounts Receivable Sales Revenue Service Charge Expense Debit 4500 I Credit 4500

On May 10, Blossom Company sold merchandise for $4,500 and accepted the customer's Best Business Bank MasterCard. At the e of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charge a 3.4% service charge for credit card sales. Prepare the entry on Blossom Company's books to record the sale of merchandise. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation May 10 Accounts Receivable Sales Revenue Service Charge Expense Debit 4500 I Credit 4500

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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Domestic
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