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Determine the types of Credit card sales
Bank Credit Card Sales - Most retail businesses accept bank credit cards. Treated as a CASH sale.
Recording Bank Credit Card Sales - recorded as a cash sale because receipts can be deposited in a bank immediately. Bank deducts a discount fee that ranges from 3% to 7%.
Cash
Credit Card Expense
Sales
Sales Tax Payable
Effects of transaction An asset supplies on hand increases (debited) as well as a liability accounts payable increases (credited) by USD 1400. The debit is to Supplies o
Matilda Crone owns and operates a public relations firm called Dance Fever. The following amounts summarize her business on August 31, 2014:
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How do you set up a t account correctly?
explain the proceedure followed in government system of accounting in india
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