Fashion Barn Company,a Retailer,accepts Payment Through Credit Cards

question 111

Essay

Fashion Barn Company,a retailer,accepts payment through credit cards.During August,credit card sales amounted to $12,000.The processor charges a 3% fee.Assume that the processor deposits the net amount.Prepare the journal entry for credit card sales.(Ignore cost of goods sold.)Omit explanation.

---

Definitions:

Centrifugation

A laboratory technique that uses centrifugal force to separate particles from a solution according to their size, shape, density, viscosity of the medium, and rotor speed.

Antecubital

Pertaining to the front and inner area of the elbow where veins are commonly accessed for blood draw.

Double Mastectomy

A surgical procedure that involves the removal of both breasts, typically to treat or prevent breast cancer.

Lymph Node Dissection

A surgical procedure to remove one or more lymph nodes, often used in the treatment of cancer to prevent its spread.