Target Allows Customers to Use MasterCard B) C) D) None of the Above

question 4

Multiple Choice

Target allows customers to use MasterCard.They report sales of $24,000 for the week.MasterCard charges Target a 3% fee.The journal entry for this transaction would be:

• A) \[\begin{array} { | l | r | r | r | }
• \hline \text { Sales } & & 24,000 & \\
• \hline \text { Bankcard discount expense } & & 720 & \\
• \hline & \text { Cash } & & 24,720 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | r | }
• \hline \text { Cash } & & 24,000 & \\
• \hline \text { Bankcard discount expense } & & 720 & \\
• \hline & \text { Sales } & & 24,720 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | r | }
• \hline \text { Cash } & & 23,280 & \\
• \hline \text { Bankcard discount expense } & & 720 & \\
• \hline & \text { Sales } & & 24,000 \\
• \hline
• \end{array}\]
• D) None of the above.