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What entry should Shamrock make

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Reference no: EM133132733

Question - Consider these transactions:

(a) Pharoah Company accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Pharoah make?

(b) Shamrock, Inc. sold its accounts receivable of $61,600. What entry should Shamrock make, given a service charge of 4% on the amount of receivables sold?

Reference no: EM133132733

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