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10 April, 22:55

Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Crane Company accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Crane make?

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  1. 10 April, 23:12
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    Dr Visa card 194

    Dr Bank charges 6

    Cr Sales revenue 200

    Explanation:

    Crane Company Journal entry

    Dr Visa card 194

    Dr Bank charges (200*3%) 6

    Cr Sales revenue 200
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