Tecom Accepts the NOVA Credit Card for Credit Card Sales

question 3

Essay

Tecom accepts the NOVA credit card for credit card sales.Tecom sends credit card receipts to NOVA on a weekly basis.NOVA charges Tecom a 2% fee.Tecom usually receives payment from NOVA within a week.Prepare entries in general journal form to record the following transactions of Tecom involving the NOVA credit card.
$\begin{array}{|l|l|}\hline\text { March } 11 & \begin{array}{l}\text { Sold merchandise for } \$ 4,500 \text { to customers who use the NOVA credit card and } \\\text { deposited the credit card receipts. }\end{array} \\\hline \text { March 20 } & \begin{array}{l}\text { Received cash proceeds less the service charge for the March } 14 \text { deposit to } \\\text { NOVA }\end{array}\\\hline\end{array}$

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Definitions:

Violent Crime

Acts that involve force or threat of force, including murder, rape, robbery, and aggravated assault.

External Social Control

Regulates people by imposing punishments and offering rewards.

Feelings of Guilt

Feelings of guilt involve emotional distress and remorse experienced when one believes they have done something wrong or failed to live up to personal or societal standards.

Community Service

Volunteer activities aimed at improving conditions or providing assistance in a local community.