Question:Morgan Retailers accepted $50,000 of Citibank VISA credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. The entry to record this transaction by Morgan Retailers will include a credit to Sales of $50,000 and a debit(s) to:
A Cash $48,000 and Services Charges Expense $2,000
B Accounts Receivable $48,000 and Service Charge Expense $2,000
C Cash $50,000
D Accounts Receivable $50,000
+ AnswerA
+ Report