Under the Net Method of Handling Credit and Debit Card

question 166

Multiple Choice

Under the net method of handling credit and debit card payments,the ________.

• A) net amount of the sale is credited to the Sales Revenue account on the date of sale
• B) credit to the sales revenue is selling price less the transaction fee
• C) business writes a check to the third-party processor for the processing fee
• D) processing fee is debited to the Credit Card Expense account on the date of sale

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New Media

Digital forms of communication and content delivery, such as social media, websites, and streaming services, which have emerged with technological advancements.

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