S4-3 Collins Woodworking accepts VISA and MasterCard at its store. Collins is charged a processing fee of 3% of the total amount of any credit card sale. Assume that Russell Knight purchases $8,000 of custom furniture and pays with a VISA card. Make the entry to record the sale to Knight. (You do not need to make the cost of goods sold entry.)
S4-3 Collins Woodworking accepts VISA and MasterCard at its store. Collins is charged a processing fee of 3% of the total amount of any credit card sale. Assume that Russell Knight purchases $8,000 of custom furniture and pays with a VISA card. Make the entry to record the sale to Knight. (You do not need to make the cost of goods sold entry.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![m-Aug 28
+
d.vst.idref%3DP7001016677000000000000000003B8F]!/4/2[P700101667700000000000...
QAA E
S4-3 Collins Woodworking accepts VISA and
MasterCard at its store. Collins is charged a processing fee of
3% of the total amount of any credit card sale. Assume that
Russell Knight purchases $8,000 of custom furniture and
pays with a VISA card. Make the entry to record the sale to
Knight. (You do not need to make the cost of goods sold
entry.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f07198c-f250-4783-beb1-a7cd49ba2863%2Fd931d8eb-cfca-4429-9f5f-5e171e29d1c3%2F1yy4x5p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:m-Aug 28
+
d.vst.idref%3DP7001016677000000000000000003B8F]!/4/2[P700101667700000000000...
QAA E
S4-3 Collins Woodworking accepts VISA and
MasterCard at its store. Collins is charged a processing fee of
3% of the total amount of any credit card sale. Assume that
Russell Knight purchases $8,000 of custom furniture and
pays with a VISA card. Make the entry to record the sale to
Knight. (You do not need to make the cost of goods sold
entry.)
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