### Credit and Debit Card Sales Transactions**Context:** Restaurants do a large volume of business by credit and debit cards. Suppose Cityside Collection restaurant had these transactions on January 28, 2024.---**Requirements:**1. **Net Method:** - Suppose Cityside Collection's processor charges a 3% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant.2. **Gross Method:** - Suppose Cityside Collection's processor charges a 3% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.---**Data Table:**- **National Express credit card sales:** $11,900- **ValueCard debit card sales:** $11,000---This information provides a basis for recording financial transactions and fees associated with credit and debit card sales for a restaurant.

A journal is a detailed account that records all the financial transactions of a business, to be…

Answered: Restaurants do a large volume of…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section24.2: Recording Internet Sales

Problem 1WT

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Restaurants do a large volume of business by credit and debit cards. Suppose Cityside Collection restaurant had these transactions on January 28, 2024: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Suppose Cityside Collection's processor charges a 4% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. X Date Accounts and Explanation Requirements 1. 2. Debit Print Suppose Cityside Collection's processor charges a 4% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. Suppose Cityside Collection's processor charges a 4% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant. Credit Done C Data table National Express credit card sales ValueCard debit card sales Print Done…
Pagan Restaurants accepts credit and debit cards as forms of payment. Assume Pagan had $10,000 of credit and debit card sales on April 30, 2023. 9. 10. Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Joumalize the sales transaction for the restaurant. Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Journalize the sales transaction for the restaurant. 9. Suppose Pagan's processor charges a 1% fee and deposits sales net of the fee. Journalize the sales transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Apr. 30 10. Suppose Pagan's processor charges a 1% fee and deposits sales using the gross method. Joumalize the sales transaction for the restaurant. Date Apr. 30 Accounts and Explanation Debit Credit
Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had these transactions on January 28: View the transactions. Read the requirements. ☑ Requirement 1. Suppose Chocolate Passion's processor charges a 6% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Date Accounts and Explanation Transactions Debit Credit National Express credit card sales $ 10,700 ValueCard debit card sales 8,000 Print Done ☑ Requirements - Suppose Chocolate Passion's processor charges a 6% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Chocolate Passion's processor charges a 6% fee and deposits sales using the gross method. Assume that on January 28, the company pays the fees assessed by the credit card…
Restaurants do a large volume of business by credit and debit cards. Suppose Cityside Collection restaurant had these transactions on January 28, 2016: National Express credit card sales $ 9,600 ValueCard debit card sales. 6,000 Requirements 1. Suppose Cityside Collection's processor charges a 4% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant. 2. Suppose Cityside Collection's processor charges a 4% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant. Requirement 1. Suppose Cityside Collection's processor charges a 4% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Now journalize the debit card sales net of the fee. Accounts and Explanation Debit Debit Credit Credit
Restaurants do a large volume of business by credit and debit cards. Suppose Parisian Cuisine restaurant had these transactions on January 28, 2024: Requirement 1. Suppose Parisian Cuisine's processor charges a 6% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Date Accounts and Explanation Now journalize the debit card sales net of the fee. Accounts and Explanation Date Date Debit Debit Lastly, journalize the debit sales using the gross method. Date Accounts and Explanation Debit # Credit Debit Credit Credit ← Requirements Credit Requirement 2. Suppose Parisian Cuisine's processor charges a 6% fee and deposits sales using the gross method. Journalize these sale transactions for the restaurant. (For purposes of this problem, only record the sales revenue portion of these transactions…
Restaurants do a large valine of business by credits and debit cards. Suppose spring Garden Salads restaurants had these transactions not January 28, 2018
Consider the following transaction: On March 6, Fun Cards sells 540 card decks with a sales price of $7 per deck to Padma Singh. The cost to Fun Cards is $4 per deck. Prepare a journal entry under each of the following conditions. Assume MoneyPlus charges a 2% fee for each sales transaction using its card. A. Payment is made using a credit, in-house account. B. Payment is made using a MoneyPlus credit card.
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Accounting for Credit Card Sales Frank's Tattoos and Body Piercing operates near campus. At the end of a recent day, Frank's cash register included credit card documents for the following sales amounts: Mastercard $756 Visa 486 The merchant's charges are 1.8% for Mastercard and 2.1% for Visa. Frank's also had cash sales of $375 and $800 of sales on credit to a local business. Required: Prepare the journal entry to record these sales.

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