Brinker except all major bank credit cards, including first savings banks, which assesses a 4% charge on sales for using its card. On May 26, Brinker had $5900 in first savings Bank credit card sales. What entry should break or make on May 26 to record the deposit?
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Brinker except all major bank credit cards, including first savings banks, which assesses a 4% charge on sales for using its card. On May 26, Brinker had $5900 in first savings Bank credit card sales. What entry should break or make on May 26 to record the deposit?
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- American Signs allows customers to pay with their Jones credit card and cash. Jones charges American Signs a 3.5% service fee for each credit sale using its card. Credit sales for the month of June total $328,430, where 40% of those sales were made using the Jones credit card. Based on this information, what will be the total in Credit Card Expense at the end of June?A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer was able to negotiate with the company and transferred the accounts receivable into a note that includes interest, along with an up-front cash payment of $6,000. The note maturity date is 24 months with a 15% annual interest rate. What is the entry to recognize this transfer?Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $4,900 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $4,900; credit Sales $4,900 Debit Accounts Receivable $4,900; credit Sales $4,90O Debit Cash $5,145.00; credit Credit Card Expense $245.00; credit Sales $4,900 Debit Cash $4,655.00; debit Credit Card Expense $245.00; credit Sales $4,900 < Prev 16 of 20 Next 1069 MAR 15 étv MacBook Air 80 DII DD F2 F3 F4 F5 F6 F7 F8 23 24 2 4 7 8. 9 W R T Y < cO 田
- Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 5% charge on sales for using its card. On May 26, Brinker had $5,500 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? Multiple Choice Debit Accounts Receivable $5,225; debit Credit Card Expense $275; credit Sales $5,500. О Debit Cash $5,500; credit Sales $5,500. O Debit Cash $5,775; credit Credit Card Expense $275; credit Sales $5,500. Debit Accounts Receivable $5,500; credit Sales $5,500. O Debit Cash $5,225; debit Credit Card Expense $275; credit Sales $5,500.Jervis accepts all major bank credit cards, including those Issued by Northern Bank (NB), which assesses a 3.0% charge on sales for using its card. On June 28, Jervis had $4,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice O Debit Accounts Receivable $4,500; credit Sales $4,500 Debit Cash $4,635.00; credit Credit Card Expense $135.00; credit Sales $4,500 Debit Accounts Receivable $4,365.00; debit Credit Card Expense $135.00; credit Sales $4,500 Debit Cash $4,500; credit Sales $4,500 ว Debit Cash $4,365.00; debit Credit Card Expense $135.00; credit Sales $4,500Carla Vista's cash register tape showed sales of $59,000 on June 16 for charges to customers' MasterCards. The bank charges a service fee of 3%. Prepare the entry to record MasterCard credit card sales. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Jun. 16 Debit Credit
- Archer allows customers to use bank credit cards to charge purchases. The bank used by Archer processes all bank credit cards in exchange for a 3% processing fee. All credit card receipts deposited are credited to the company account on the day of deposit. Assume that on August 10, Archer sold and deposited $5,200 worth of bank credit card receipts. The cost of sales is $2,800. Record this transaction in the general journal.Carla Vista Garage Co. accepts the following forms of payment: Visa, MasterCard, the Carla Vista Garage Co. credit card, and debit. Carla Vista is charged 3.50% for all bank credit card transactions and $0.50 per transaction for all debit card transactions. Carla Vista charges 14.25% interest on balances owing on the Carla Vista Garage Co. credit card. In October and November 2021, the following summary transactions occurred (note: there is no right of return for the sale of services; therefore, a refund liability entry is not necessary in this question): Oct. 15 20 30 31 Nov. 15 Record the above transactions for Carla Vista Garage Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, e.g. 2,275. Record journal entries in the order presented in the problem.) to 0 decimal places, eg. 2,275. Record journal…If a company accepts credit cards, they must record the expense on their books. Please prepare the journal entries for the following scenario: Company A sells $480,000 on credit card sales. The credit card charges a 4.5% fee for the use of the card. The card company also deposits the cash into the company’s bank account the same night as the credit cards are accepted.
- A credit card account’s due date is June 9, and the outstanding balance on that day is $460. On that same day, the card holder sends in a payment of $75 and uses the card for a $20 purchase. The card is used again on June 13th and June 24th for purchases of $154 and $54, respectively. If the credit card interest rate on the average daily balance is 2.5% per month, what is the finance charge for the month? Round your answer to the nearest cent.PLEASE TYPE IT AND NOT HANDWRITTEN A credit card has a balance of P129,776.71 on March 1. The credit card holder paid P10,000 on March 15. He made a purchase of P8,862.54 on March 16 and did not use the credit card until the end of the month. The monthly interest rate is 3.50% on purchases and 3.50% on cash advances. How much is the minimum amount to pay at the end of March?On December 31, 2020, the cash account of Jungkook Company showed a balance of P396,980. Upon examining the cash records and the bank statement, the following information were determined. There was a bank service charge of P 1,500 for the month of December There was a credit memo for a note collected by the bank for Jungkook. The customer’s note is P90,000 with interest of P2,600. The bank charged a collection fee of P550 December 31, 2020, receipts for P289,000 were deposited only on January 2, 2021 Checks issued which have not yet cleared the bank as at December 31,2020 amounts to P186,610 There is a debit memo for P45,320 for a customer’s checked returned marked “DAIF” A receipt of P90,000 had been entered as P60,000 in the cash book. Check # 12345 issued amounting to P49,100 was erroneously recorded as P41,900 and check # 12346 issued in the correct amount of P5,820 had been taken up as P58,200. Jungkook’s correct amount of cash presented in its December…