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Aloiza [94]
2 years ago
7

MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% serv

ice charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made. The journal entry to record this sale transaction would be: Multiple Choice Debit Cash $295.50; debit Credit Card Expense $4.50 and credit Sales $300. Debit Accounts Receivable $300 and credit Sales $300. Debit Cash of $300 and credit Sales $300. Debit Cash $295.50 and credit Sales $295.50.
Business
1 answer:
Arlecino [84]2 years ago
3 0

Answer:

The journal entry to record the sale transaction would be to "debit cash $295.50; debit credit card expense $4.50 and credit sales $300"

Explanation:

The credit card expense of $4.5 ( i.e, Sales of Merchandise <em>$300</em> multiplied by Bank service charge deduction <em>1.5%</em>) is a loss.

Therefore, It should be debited.

You might be interested in
Consumption spending is $4.5 billion, gross private domestic investment is $3 billion, and government expenditures are $2 billio
masha68 [24]

Answer:

exports are $15 billion, and imports are $10.5 billion

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP = Consumption + Investment spending + Government Spending + Net Export

14 billion = 4.5 billion + $3 billion + $2 billion + Net Export

Net Export = $4.5 billion

Net Export = export - import

Net Export is positive so it indicates that exports is greater than imports.

Going through the options, it is only option d that is equal to 4.5 and the export is greater than the import.

I hope my answer helps you

7 0
3 years ago
When businesses form voluntary, collaborative partnerships with environmental organizations and regulators to achieve specific o
Dahasolnce [82]

Answer: Environmental partnerships.

Explanation:

It is important to understand that for most and all business to thrive there have to be an enabling environment for that to happen. Environment play a key or major role to the growth of any business and as such most business pay keen attention to their environment and do every means to ensure it is vulnerable for them to operate well. The partnership between organizations and seeking a operational environment to do their business is known as environmental partnership.

3 0
3 years ago
Four basic steps are used in an abc system. list the proper order of these​ steps, which are currently scrambled​ below:
alukav5142 [94]
First Identity the primary activities
Then goes select an allocation
Followed by calculating an activity
And finally allocate the costs

Hope this helps
7 0
3 years ago
If investors from Denmark increase purchases of U.S. securities, which of the following is true regarding the demand for dollars
saw5 [17]

Answer:

Increase / Increase.

Explanation:

Increase purchases of the U.S securities by the Denmark investors will place an increase on both the demand for U.S. dollar and international value of U.S. dollar since the business is done with the U.S dollar.

3 0
3 years ago
Assuming that the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity i
ioda

Answer: a.fixed factory overhead volume variance.

Explanation:

Fixed overhead costs are the costs that are incurred by an organization that doesn't change even when the lre is a change in the volume of production activity. The fixed overhead costs are vital in order for the effective operation of the company.

When the standard fixed overhead rate is based on full capacity, the cost of available but unused productive capacity is indicated by the a.fixed factory overhead volume variance.

8 0
3 years ago
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