Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on the amount of receivables sold? Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
a.
b.
a.
b.
Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's
make?
Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on
the amount of receivables sold?
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:Consider these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) a. b. a. b. Tony's Restaurant accepted a Visa card in payment of a $300 lunch bill. The bank charges a 2% fee. What entry should Tony's make? Sunland Company sold its accounts receivable of $81,000. What entry should Sunland make, given a service charge of 2% on the amount of receivables sold? Account Titles and Explanation Debit Credit
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