Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters
Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters
12th Edition
ISBN: 9780134490663
Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae
Publisher: PEARSON
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Chapter 8, Problem S8.6SE

Recording credit card and debit card sales

    Learning Objective 5

Restaurants do a large volume of business by credit and debit cards. Suppose Summer, Sand, and Castles Resort restaurant had these transactions on January 28, 2018:

    National Express credit card sales $10,800
    ValueCard debit card sales 10,000

Requirements

  1. Suppose Summer, Sand, and Castles Resorts processor charges a 2% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant.
  2. Suppose Summer, Sand, and Castles Resort’s processor charges a 2% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.

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Chapter 8 Solutions

Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters

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