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I got the 2nd portion wrong, not sure what I did incorrectly. Suppose Turning Leaves...

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Accounting

I got the 2nd portion wrong, not sure what I did incorrectly.

Suppose Turning Leaves Continental Breakfast'sTurning Leaves Continental Breakfast's processor charges a 6% fee and deposits sales net of the fee. Journalize these sale transactions for the restaurant. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Journalize the credit sales net of the fee, first.

National Express Credit Card Sales $11200

ValueCard Debit Sales 11000

Accounts and Explanation

Debit

Credit

Cash

10,528

Credit Card Expense

672

Sales Revenue

11,200

Recorded credit card sales, net of fee.

Now journalize the debit card sales net of the fee.

Accounts and Explanation

Debit

Credit

Accounts ReceivableNational Express

11200

Sales Revenue

11200

Credit Card Expense

672

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10528

Recorded debit card sales, net of fee.

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