Answer:
The Journal entries with their narration is given below:-
Explanation:
The Journal entry is shown below:-
1. Account receivables Dr, $22,200
To Sales $22,200
(Being sales is recorded)
2. Cash Dr, $6,048
Service charge expense Dr, $252
($6,300 × 4%)
To Sales $6,300
(Being credit card sales is recorded)
3. Cash Dr, $11,600
To accounts receivable $11,600
(Being cash is recorded)
4. Accounts receivable Dr, $364
($22,000 - $11,600) × 3.5%
To Interest revenue $364
(Being finance charges is recorded)
