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

question 1

Multiple Choice

Target allows customers to use MasterCard.It reports Sales revenue of $24 000 for the week.MasterCard charges Target a 3% fee.The journal entry for this transaction would be:

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Sales revenue } & 24000 & \\
• \hline \text { Card fee expense } & 720 & \\
• \hline \text { Cash } & & 24720 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 23280 & \\
• \hline \text { Card fee expense } & 720 & \\
• \hline \text { Sales revenue } & & 24000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 24000 & \\
• \hline \text { Card fee expense } & 720 & \\
• \hline \text { Sales revenue } & & 24720 \\
• \hline
• \end{array}\]
• D) None of the above.

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