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Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017. 9. Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) 10. Suppose Peter's processor charges a 1% fee andd deposits sales using the gross method. Journalize the sale transaction for the restaurant.

Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017. 9. Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) 10. Suppose Peter's processor charges a 1% fee andd deposits sales using the gross method. Journalize the sale transaction for the restaurant.

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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Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017.

9. Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)

10. Suppose Peter's processor charges a 1% fee andd deposits sales using the gross method. Journalize the sale transaction for the restaurant.

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