Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 5% charge on sales for using its card. On May 26,Brinker had $5,500 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?Multiple ChoiceDebit Accounts Receivable $5,225; debit Credit Card Expense $275; credit Sales $5,500.ОDebit Cash $5,500; credit Sales $5,500.ODebit Cash $5,775; credit Credit Card Expense $275; credit Sales $5,500.Debit Accounts Receivable $5,500; credit Sales $5,500.ODebit Cash $5,225; debit Credit Card Expense $275; credit Sales $5,500.

Detailed explanation:Journal entry for the deposit :Record increase in asset by debit cash 5,225 (…

Answered: Brinker accepts all major bank credit…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $4,900 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice Debit Cash $4,900; credit Sales $4,900 Debit Accounts Receivable $4,900; credit Sales $4,90O Debit Cash $5,145.00; credit Credit Card Expense $245.00; credit Sales $4,900 Debit Cash $4,655.00; debit Credit Card Expense $245.00; credit Sales $4,900 < Prev 16 of 20 Next 1069 MAR 15 étv MacBook Air 80 DII DD F2 F3 F4 F5 F6 F7 F8 23 24 2 4 7 8. 9 W R T Y < cO 田
Jervis accepts all major bank credit cards, including those Issued by Northern Bank (NB), which assesses a 3.0% charge on sales for using its card. On June 28, Jervis had $4,500 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit? Multiple Choice O Debit Accounts Receivable $4,500; credit Sales $4,500 Debit Cash $4,635.00; credit Credit Card Expense $135.00; credit Sales $4,500 Debit Accounts Receivable $4,365.00; debit Credit Card Expense $135.00; credit Sales $4,500 Debit Cash $4,500; credit Sales $4,500 ว Debit Cash $4,365.00; debit Credit Card Expense $135.00; credit Sales $4,500
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