Brief Exercise 9-07 a-b Presented below are two independent transactions. (Credi

Question

Brief Exercise 9-07 a-b Presented below are two independent transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Tony's Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 2% fee, what entry should Tony's make? Marigold Company sold its accounts receivable of S 75,000 what entry should Marigold make, given a service charge of 1% on the amount of receivables sold? | a. b. Account Titles and Explanation Debit Credit a. b.

Explanation / Answer

Debit Credit a Cash 196 credit card exp 4 Sales 200 b Cash 74250 Bad debt exp 750 Account Receivable 75000

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.