Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $6,240
Credit card expense A/c Dr $260 ($6,500 × 4%)
To Sales A/c $6,500
(Being the deposit is recorded)
For recording the deposit, we debited the cash account, credit card expense and credited the sales account so that the proper posting can be done.
4. As it is not the finance departments job to keep up with reputation and how they look.
Answer:
Option D is correct because the only item that relates to Income statement is Sales Revenue of $45000 and the remainder transactions net effect must go to Comprehensive Income statement.
Net effect = - $36k + $28k - $17k -$3.1k = $28.1 Loss
This net effect realized during the year in the Comprehensive Income statement because these transaction does not directly relate to core operation of the entity.
