Journalize the sales transactions for the restaurant

Reference no: EM131819305

Question: Recording credit card and debit card sales Restaurants do a large volume of business by credit and debit cards. Suppose Sand Island restaurant had these transactions on January 28, 2016:

National Express credit card sales $9,100

ValueCard debit card sales 7,000

Requirements: 1. Suppose Sand Island's processor charges a 6% fee and deposits sales net of the fee. Journalize these sales transactions for the restaurant.

2. Suppose Sand Island's processor charges a 6% fee and deposits sales using the gross method. Journalize these sales transactions for the restaurant.

Reference no: EM131819305

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