2018 Nov. 1 Recorded Credit Express credit card sales of $115,000, net of processor fee...
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Accounting
2018 Nov. 1 Recorded Credit Express credit card sales of $115,000, net of processor fee of 2%. Ignore Cost of Goods Sold. Recorded Centura credit card sales of $94,000. Processor charges a 3% fee. Centura charges the fee at the end of the month, therefore Gold Medal uses the gross method for these credit card sales. Ignore Cost of Goods Sold. Centura collected the fees for the month of November. Assume the November 15 transaction is the only Centura credit card sale 15 30 Print Done n continue to the next
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