Posted: May 6th, 2016

Company A sells merchandise for $10,000 to Company B. Company B pays with a credit card, which is processed immediately. The credit card company charges a 1% fee to Company A for each transaction. The appropriate journal entry will include a

Company A sells merchandise for $10,000 to Company B. Company B pays with a credit card, which is processed immediately. The credit card company charges a 1% fee to Company A for each transaction. The appropriate journal entry will include a
A) debit to Credit Card Expense for $100
B) debit to cash for $10,000
C) credit to Sales for $9,900
D) debit to Accounts Receivable for $10,000