Question

Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Crane Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Crane make?

Answer 1

Dr Visa card 194

Dr Bank charges 6

Cr Sales revenue 200

Step-by-step explanation:

Crane Company Journal entry

Dr Visa card 194

Dr Bank charges (200*3%) 6

Cr Sales revenue 200