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52/112.Jervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% factoring fee. What entry should Jervis make on to record the transaction? A. Debit Cash $71,250; debit Factoring Fee Expense $3,750; credit Accounts Receivable $75,000 B. Debit Accounts Receivable $71,250; debit Factoring Fee Expense $3,750; credit Cash $75,000 C. Debit Cash $75,000; credit Factoring Fee Expense $3,750; credit Accounts Receivable $75,000 D. Debit Cash $71,250; credit Accounts Receivable $71,250 E. Debit Accounts Receivable $75,000; credit Factoring Fee Expense $3,750; credit Cash $71,250 53/113.Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 3% charge on sales for using its card. On June 28, Jervis had $3,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? A. Debit Cash $3,500; credit Sales $3,500 B. Debit Accounts Receivable $3,500; credit Sales $3,500 C. Debit Cash $3,605; credit Credit Card Expense $105; credit Sales $3,500 D. Debit Cash $3,395; debit Credit Card Expense $105; credit Sales $3,500 E. Debit Accounts Receivable $3,395; debit Credit Card Expense $105; credit Sales $3,500 54/114. Brinker accepts all major bank credit cards, including First Savings Banks, which assesses a 2.5% charge on sales for using its card. On May 26, Brinker had $4,800 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit? A. Debit Accounts Receivable $4,800; credit Sales $4,800. B. Debit Cash $4,680; debit Credit Card Expense $120; credit Sales $4,800. C. Debit Cash $4,800; credit Sales $4,800 D. Debit Cash $4,920; credit Credit Card Expense $120; credit Sales $4,800. E. Debit Accounts Receivable $4,680; debit Credit Card Expense $120; credit Sales $4,800

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