Tastee restaurant accepted a visa card in payment of a 200, Accounting Basics

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Tastee restaurant accepted a visa card in payment of a 200

Question: Consider these transactions:

(a) Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Tastee make?

(b) Martin Company sold its accounts receivable of $65,000. What entry should Martin make, given a service charge of 3% on the amount of receivables sold?

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Accounting Basics: Tastee restaurant accepted a visa card in payment of a 200

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Accounting Basics: Tastee restaurant accepted a visa card in payment of a 200

Reference No:- TGS02624045

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