Books of main company to record the sale

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A Credit Card Company agrees to transfer cash to Main Company five business days after the deposit of that company's credit card sales receipts. that company charges a 3% fee for all credit card sales. If Main Company deposits $65,000 credit card sales receipts, what will be the journal entries in the books of Main Company to record the sale and later, the receipt of sales proceeds?

Reference no: EM132204012

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