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Reptile [31]
3 years ago
15

On July 4, Blossom's Restaurant accepts a Visa card for a $150 dinner bill. Visa charges a 2% service fee. Prepare the entry on

Blossom’s books related to the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Tpy6a [65]3 years ago
3 0

Answer:

The journal entry is shown below.

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Journal entry

Jul.4 Cash A/c Dr    $147

        Card charges A/c Dr.   $3

        To Sales revenue A/c   $150

(Being card transaction is recorded)

Computation:

Cash = $150 - 2% × $150 = $147

Card charges = $150 × 2% = $3

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