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When a company makes a sale to a customer

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Problem 1: When a company makes a sale to a customer who uses a credit card such as Visa or MasterCard, the company:

a. recognizes revenue for the full amount of the sale.

b. debits cash because it knows the credit card company will pay within a day or two.

c. sends a check to the credit card company for the amount of the service fee.

d. debits a contra-revenue for the amount of the credit card fee.

Reference no: EM132701673

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