Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. credit card sales historically 60 percent of the c

Credit Card Sales Historically 60 percent of the customer bills at the Andrews Supper Ou...

70.2K

Verified Solution

Question

Accounting

image
Credit Card Sales Historically 60 percent of the customer bills at the Andrews Supper Ou have been paid with cash or check, and 40 percent have been paid using either the Great American Bank Card or the United Merchant Card Andrews pays a four percent fee with both cards. Great American Bank deposit cash in Andrews' checking account when the credit card sales slips are deposited. United Merchants makes an electronic funds transfer three days after the sales sis are mailed. Prepare journal entries to record the following: Round to the nearest dollar Sales for September 10 Cash and checks Great American Bank Card Depo at the end of the day 500 United Merchants Card at the end of the day Marches the Seb o Credit Card e Expense

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students