Instructions Prepare the entry on Plume Appliances' books to record the sale of the receivables. E8-8 On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.8% service charge for credit card sales. Prep (LO Instructions Prepare the entry on Keene Company's books to record the sale of merchandise. E8-9 On July 4, Mazie's Restaurant accepts a Visa card for a $250 dinner bill. Visa charges a 4% service fee. Instructions Prepare the entry on Mazie's books related to the transaction.
Instructions Prepare the entry on Plume Appliances' books to record the sale of the receivables. E8-8 On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of the day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.8% service charge for credit card sales. Prep (LO Instructions Prepare the entry on Keene Company's books to record the sale of merchandise. E8-9 On July 4, Mazie's Restaurant accepts a Visa card for a $250 dinner bill. Visa charges a 4% service fee. Instructions Prepare the entry on Mazie's books related to the transaction.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.9E
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