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On May 10, Bonita Industries sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.70% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit

On May 10, Bonita Industries sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.70% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit

FINANCIAL ACCOUNTING
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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On May 10, Bonita Industries sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.70% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit
Transcribed Image Text:On May 10, Bonita Industries sold merchandise for $6,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.70% service charge for credit card sales. Prepare the entry on Bonita Industries's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation May 10 Debit Credit
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