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Question - Annie's Edibles operates as a sandwich and wrap shop. Its customers can pay by cash, debit or credit card. For each debit transaction, Annie pays $0.15. For credit cards, Annie pays 2% of the total credit card transactions. On September 12, 2019, Annie compiled the following summary for the work day.
Cash $43954, Debit Card $33944 and Credit Card $00
a) Calculate the total debit/credit card expense for September 12.
b) Record the journal entry for the day's sales ignoring Cost of Goods Sold.
Prepare the bank account to close the books of the partnership. Prepare the realisation account to close the books of the partnership.
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