Chauky's Catering Accepted a Bank-Issued Credit Card in Payment of a $4,000

question 57

Multiple Choice

Chauky's Catering accepted a bank-issued credit card in payment of a $4,000 sales transaction. Chauky's bank charges 3% to process the transaction. The journal entry to record the sales transaction will include:

• A)a credit to Sales Revenue for $3,880.
• B)a debit to Cash for $4,000.
• C)a debit to Financing Expense for $120.
• D)all of these.

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Definitions:

Cell Phone

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