Question 1
1 answer:
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Answer:
Debit to accounts receivable $9,800, Debit to credit card Discount $200 and credit to sales revenue $10,000
Explanation:
Given that the credit card charges 2%; then the discount rate =
= 0.02 × 10,000
= 200
The account receivable = $10,000 - $200
= $9,800
From the foregoing, it is obvious that the sale revenue would not be affected by this transaction. SO, the sale revenue = $10,000