Kasey's Cake Shop made $30,000 in sales of wedding cakes in July. All of these sales were on bank credit cards. The credit card company charges a 2.0% collection fee. Required: Prepare Kasey's journal entry to record the credit card sales.

Kasey's Cake Shop made $30,000 in sales of wedding cakes in July. All of these sales were on bank credit cards. The credit card company charges a 2.0% collection fee. Required: Prepare Kasey's journal entry to record the credit card sales.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13RE: Kaseys Cake Shop made 20,000 in sales of wedding cakes in July. All of these sales were on bank...

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Question

Instructions Chart of Accounts General Journal
Instructions
Kasey's Cake Shop made $30,000 in sales of wedding cakes in July. All of these sales were on bank credit cards. The credit card company charges a 2.0% collection fee.
Required:
Prepare Kasey's journal entry to record the credit card sales.

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