Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use.The entry to record this transaction by Blinka Retailers will include a credit to Sales of $50,000 and a debit(s) to:
|
a. Cash |
$48,000 |
|
and Service Charge Expense |
2,000 |
|
b. Accounts Receivable |
$48,000 |
|
and Service Charge Expense |
$2,000 |
|
c. Cash |
$50,000 |
|
d. Accounts Receivable |
$50,000 |