Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually,.) (a) Crane Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $61,600. What entry should Larkspur make, given a service charge of 3% on the amount of receivables sold?

Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually,.) (a) Crane Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Crane make? (b) Larkspur, Inc. sold its accounts receivable of $61,600. What entry should Larkspur make, given a service charge of 3% on the amount of receivables sold?

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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