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Question - Mraz's Place operates as a restaurant. Its customers can pay by cash, debit or credit card. For each debit transaction, Jason pays $0.15. For credit cards, Jason pays 5% of the total credit card transactions. On August 6, 2019, Jason compiled the following summary for the work day.
Transaction Type Total Number of Transactions:
Cash: total, $2265 and number of transaction: 45
Debit Card: total, $0 and Number of Transaction: 0
Credit Card: total, $3600 and number of Transaction: 83
Required -
a) Calculate the total debit/credit card expense for August 6.
b) Record the journal entry for the day's sales ignoring cost of goods sold.
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