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A Retailer Has 3% Credit/debit Card Service Fees Deducted from the Proceeds

question 60

Essay

A retailer has 3% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $1,700 in sales for the day. The journal entry to record these sales would be __________.


Definitions:

Liability Insurance

Insurance protection that offers defense against claims related to harm or damage inflicted on other individuals or their property.

Property Damage

Harm or destruction that affects the value or usability of someone's property.

Dash Delivery

A rapid delivery service that aims to transport items to customers in a very short time frame, often leveraging technology for efficiency.

Foreseeable

Refers to an event or condition that a reasonable person would anticipate and therefore expect to consider while making decisions.

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