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What entry should Blossom make

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Reference no: EM132997980

Problem - Consider these transactions:

(a) Blossom Company accepted a Visa card in payment of a $100 lunch bill. The bank charges a 4% fee. What entry should Blossom make?

(b) Kingbird, Inc. sold its accounts receivable of $59,200. What entry should Kingbird make, given a service charge of 4% on the amount of receivables sold?

Reference no: EM132997980

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