The Multiplex Mart accepts VISA.During March,$140,000 in credit card sales were made.VISA charges 3% of sales as its service fee.Prepare the entry to record the credit card sales.Include the account titles and amounts.
Definitions:
Net Income
The total earnings of a company after all expenses and taxes have been subtracted from revenue.
Maturity Date
The predetermined date on which a financial instrument, such as a loan or bond, is due to be repaid in full.
Promissory Note
A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.
Due Date
The due date refers to the specific day on which a payment is due or a task must be completed.
Q45: If a company uses a periodic inventory
Q57: A computerized accounting system requires users to
Q62: For each event,determine the amount of expense
Q80: The accountant found that four outstanding checks
Q127: An error in ending inventory in 2011
Q134: The Modified Accelerated Cost Recovery system (MACRS)allows
Q150: Reliable information _.<br>A)needs to be current so
Q212: The following information is provided for two
Q230: Buy & Large,Inc.'s inventory activity in October
Q237: Mac,Inc.purchased a truck on October 1,2011 in