If a Retailer Makes a Sale of $100 on a MasterCard,and

question 141

True/False

If a retailer makes a sale of $100 on a MasterCard,and MasterCard takes a 5 percent discount on the sale,the retailer would record Cash for $100 and Accounts Payable for $5.

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Definitions:

Israel

A country in the Middle East, established in 1948, known for its rich historical, religious, and cultural heritage, and for being a significant focus of geopolitical tensions.

Soviet War

May refer to any conflict involving the Soviet Union, but commonly might denote the Soviet-Afghan War (1979-1989), where the Soviet Union invaded Afghanistan.

Afghanistan

A landlocked country located in South Asia and Central Asia, known for its complex history of warfare, strategic location, and rich cultural heritage.

Vietnam War

A prolonged conflict (1955-1975) between the communist government of North Vietnam and South Vietnam, involving intensive military intervention by the United States.