Jim is in the market for a car that will last for the next 10 years and has saved up some Miami for the purpose of a car .whats
1 answer:
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Answer:
B.
Explanation:
Credit card is one of the most common way of making payment while a customer purchases anything in the market. The credit card company charge an amount that is payable by the seller.Thus, it is an expense for the one selling the product.
Given:
Credit card fee: 2%
Sales = $2,700
Credit card charges can be calculated as:
Credit card charges = Sales*Credit card fee
Credit card charges = $2,700*2%
Credit card charges = $54
Now, credit card charge is an expense so it will be debited. The amount is yet to be received so accounts receivable will also be debited. The revenue has been earned so it will be credited.
Thus, the journal entry for the given transaction has been attached below:
