The College Store Accepts MasterCard for Payments of Purchases Made

question 63

Multiple Choice

The College Store accepts MasterCard for payments of purchases made by students. The credit card drafts are deposited directly in a bank account. MasterCard charges a 1.55% collection fee. Credit card drafts totaling $10,000 are deposited during August. Recording the sales and deposits will result in an increase in

• A)Cash for $10,000
• B)Sales for $ 9,854
• C)Accounts Receivable for $9,854
• D)Service Charge Expense for $155

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Definitions:

Role Ambiguity

A situation in which an individual lacks clear information about job expectations, their role within the organization, or the scope of their responsibilities.

Work Unit

A functional component within an organization, typically made up of team members working together towards common objectives.

Representing Category

The act of exemplifying or embodying the characteristics of a broader class or group.

External Behavior

Actions or reactions observed from an individual that occur outside of their internal cognitive processes, visible to others.