11) What are the most common credit cards issued by financial institutions?
12) What are the most desirable form of sales?
13) What is the expense called that reflects the estimate of uncollectible accounts receivable?
14) A retailer has 2% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $4,800 in sales for the day. The journal entry to record these sales would be __________.
15) A retailer has 5% credit/debit card service fees deducted from the business's bank account on a monthly
basis. The retailer has $43,500 in sales for the month. What is the journal entry to record these sales?
16) Assume a retailer has a credit card sale of $1,400, with cost of the product being $1,050. The business pays $8 of processing fees, which are deducted from the proceeds. The journal entry to record these sales would be __________.
17) A retailer has 3% credit/debit card service fees deducted from the proceeds from each sale. The retailer has $1,700 in sales for the day. The journal entry to record these sales would be __________.