A Retailer Has 2% Credit/debit Card Service Fees Deducted from the Proceeds

question 38

Essay

A retailer has 2% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $4,800 in sales for the day. The journal entry to record these sales would be __________.

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Definitions:

Studied Hard

A phrase indicating the process of dedicating significant effort and time to learning or mastering a subject matter.

Poorly

In an unsatisfactory, inadequate, or unsuccessful manner, often describing performance or condition.

First Information

The initial data or facts received about a situation, topic, or phenomenon, which can significantly influence perceptions and decisions.

Time Pressure

The stress or urgency of completing tasks or making decisions within a limited time frame.