Question

Under the gross​ method, ________. A. the processing fees charged are deducted from the​ company's bank account by the credit card processor B. the total sales plus the processing fee assessed equals the net amount of cash deposited C. the proceeds from debit and credit card transactions are deposited on the last day of the month D. there will be no fee charged by the credit card processor for the transaction

Answer 1

Answer: . A. the processing fees charged are deducted from the​ company's bank account by the credit card processor

Explanation:

Gross method is simply used for recording purchases made by th customers at full invoice price. It should be noted that there are no deduction in cash discounts.

Under the gross​ method, the processing fees charged are deducted from the​ company's bank account by the credit card processor.