Anchor Sales Accepts Credit Cards from Its Customers $$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}$$

question 69

Essay

Anchor Sales accepts credit cards from its customers.Assume Anchor makes a sale of $100 and the processor charges a 3% fee.Assume that the credit card processing company uses the net method of depositing funds.Provide the journal entry made by Anchor to record the sales revenue.
$$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline & & \\\hline\end{array}$$

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Definitions:

Dependent

Relates to relying on someone or something else for support or assistance, often used in contexts such as emotional, financial, or physical dependency.

Inferiority Feelings

Emotions arising from perceived shortcomings compared to others, which can drive individuals to compensate or improve.

Pampering

Giving someone excessive attention, care, or kindness, often to the point of spoiling them.

Neglect

The failure to provide necessary care, assistance, or attention, leading to potential harm or deprivation in individuals dependent on such care.