Taylor Swift purchases $4,000 of equipment from Ace Equipment Supply Co.,...

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Taylor Swift purchases $4,000 of equipment from Ace Equipment Supply Co., using her Citibank Visa Card. Citibank charges a service fee of 2%. The entry to record this transaction by Ace includes a credit to Sales Discounts for $80. a debit to Cash for $3,920. a credit to Sales Revenue for $3,920. a debit to Accounts Receivable for $4,000

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