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astraxan [27]
3 years ago
12

Glebe Company accepted a credit card account receivable in exchange for $1,100 of services provided to a customer. The credit ca

rd company charges a 5% service charge. The collection of cash from the credit card company when it settles the account receivable balance will act to:
Business
1 answer:
zimovet [89]3 years ago
7 0

Answer:

Account receivable balance = $1,100 - ($1,100* 5%)

Account receivable balance =$1,100 - $55

Account receivable balance = $1,045

Date    Account Title        Debit       Credit

           Cash Account      $1,045

                 To Accounts receivable  $1,045

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