A Credit Card Accounting

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Posted on February 24, 2019 at 03:18 AM

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You Can Save This Videos How Credit Card Processing Works - Transaction Cycle & 2 Pricing Models

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Journal Entries for Credit Card Transactions — Practice ...
Practice questions. The entry to record the sales will include a credit to sales revenues of $120,000 and debits to A. accounts receivable $120,000 B. cash $115,800 and interest expense $4,200 C. accounts receivable $115,800 and credit card fees $4,200 D. accounts receivable $115,800 and interest expense $4,200 E. cash $115,800 and credit card fees $4,200.
Company Credit Cards Explanation: Accounting Policies
The company credit card section of an accounting policy is a section where you define who has company credit cards and responsibility for the charges incurred. Below is a sample of this section of the procedures, which can be tailored to your situation.
Accounting for Credit Card Sales | Financial Accounting
To illustrate the accounting entries for the use of bank credit cards (such as VISA or MasterCard), assume that a retailer has made sales of $ 1,000 for which VISA cards were accepted and the service charge is 3% of sales.

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