Question

​Stelloh's Berry Farm accepted a bankminusissued credit card in payment of a $ 1 comma 300 sales transaction.​ Stelloh's bank charges 3​% to process the transaction. The journal entry to record the sales transaction will include​ (Ignore cost of goods​ sold.):

Answer 1

Answer:

Debit Cash $1,261

Dr card discount expense $39,

Credit Sales Revenue for $1,300

Explanation:

​Stelloh's Berry Farm Journal entries

Debit Cash $1,261

($1,3,00-$39)

Dr card discount expense $39,

(3%×$1,300)

Credit Sales Revenue for $1,300