Determine the types of credit card sales, Accounting Basics

Assignment Help:

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

Related Discussions:- Determine the types of credit card sales

Income Statement, Give the statement classification of each income statemen...

Give the statement classification of each income statement account

Example of accumulated depreciation account, Q. Example of Accumulated Depr...

Q. Example of Accumulated Depreciation account? Along with other items the trial balance of Korman Company for 2010 December 31 includes the following account balances

Assets, list me all the asset in the world?

list me all the asset in the world?

the relevant authoritative literature, Determining the physical quantity t...

Determining the physical quantity that should be contained in inventory normally is a simple matter because that amount have of items in the possession of the company. The cost of

Reconsolidation, In the process of giving information from a business to a ...

In the process of giving information from a business to a prospective buyer, an accountant is requesting a Reconsolidation for last December. What is that?

T-accounts general ledger, trying to put the numbers into the correct asset...

trying to put the numbers into the correct asset t-account and not adding up

Accounting personnel, There is almost not, any organization that does not h...

There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and comp

COMMON SIZE STATEMENTS, RATIO ANALYSIS

RATIO ANALYSIS

Adjusted trial balance sheet, If the amount in supplies expense is the janu...

If the amount in supplies expense is the january 31 adjusting entry and $650 of supplies waw purchased in january what was the balance in supplies on january 1

Management accounting, The advent of management accounting was the subseque...

The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management

Write Your Message!

Name

Email id

Message

Verfication Code

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages