Requirement 1. Suppose Winter Retreats\' processor charges a 3% fee and deposits

Question

Requirement 1. Suppose Winter Retreats' processor charges a 3% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the credit sales net of the fee, first. Accounts and Explanation Debit Credit Data Table National Express credit card sales ValueCard debit card sales S 10,200 9,000 Now journalize the debit card sales net of the fee Print Done Accounts and Explanation Debit Credit

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winter retreats question:

requirement 1:

journalise the credit sale net of fee :

To record the debit card sales:

requirement 2:

journalising credit card sales using gross method:

journalising debit card sales under gross method:

1 Cash a/c $9,894 Credit card expense a/c $306 ................To Sales revenue a/c $10,200 Record credit card sales net of fee. (amount :card expense = $10,200 * 3% =>$306) (cash = $10,200 - 306=>$9,894)

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