FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Britta's Sandwiches operates as a sandwich and wrap shop. Its customers can pay by cash, debit or credit card. For
each debit transaction, Britta pays $0.20. For credit cards, Britta pays 3% of the total credit card transactions. On
September 10, 2022, Britta compiled the following summary for the work day.
Transaction Type Total Number of Transactions
Cash
$413
50
Debit Card
$318
43
Credit Card
$0
0
Required
Do not enter dollar signs or commas in the input boxes.
a) Calculate the total debit/credit card expense for September 10.
Total Debit/Credit Card Expense = $8.60
b) Record the journal entry for the day's sales ignoring Cost of Goods Sold.
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Transcribed Image Text:Britta's Sandwiches operates as a sandwich and wrap shop. Its customers can pay by cash, debit or credit card. For each debit transaction, Britta pays $0.20. For credit cards, Britta pays 3% of the total credit card transactions. On September 10, 2022, Britta compiled the following summary for the work day. Transaction Type Total Number of Transactions Cash $413 50 Debit Card $318 43 Credit Card $0 0 Required Do not enter dollar signs or commas in the input boxes. a) Calculate the total debit/credit card expense for September 10. Total Debit/Credit Card Expense = $8.60 b) Record the journal entry for the day's sales ignoring Cost of Goods Sold.
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