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Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Ayayai Corp. accepted a Visa card in payment of a $2,400 lunch bill. The bank charges a 4% fee. What entry should Ayayai Corp. make? (b) Splish Brothers Inc. sold its accounts receivable of $59,400. What entry should Splish Brothers Inc. make, given a service charge of 4% on the amount of receivables sold?

Respuesta :

Karabo99

Answer and Explanation:

No.    Account titles and explanation              Debit             Credit

(a) Cash                                                           $2,304  

       Service Charge Expense($2,400 * 4%)     $96  

        Sales Revenue                                                            $2,400

No.    Account titles and explanation              Debit            Credit  

(b) Cash                                                           $57,024  

       Service Charge Expense($59,400 * 4%)    $2,376  

       Accounts Receivable                                                  $59,400

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