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 

+ Answer
+ Report
Total Preview: 990

Copyright © 2024. Powered by Intellect Software Ltd