This question has been answered Question 23)A) Accounts Receivable $86000.B) Cash $80840 and Service Charge Expense $5160. Simonic Retailers accepted $86000of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 6% for its credit card use. The entry to record this transaction by Simonic Retailers will include a credit to Sales Revenue of $86000 and a debit(s) to C) Accounts Receivable $80840 and Service Charge Expense $5160. D) Cash $80840 and Interest Expense $5160.
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Question
23)A) Accounts Receivable $86000.B) Cash $80840 and Service Charge Expense $5160.
Simonic Retailers accepted $86000of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 6% for its credit card use. The entry to record this transaction by Simonic Retailers will include a credit to Sales Revenue of $86000 and a debit(s) to
C) Accounts Receivable $80840 and Service Charge Expense $5160.
D) Cash $80840 and Interest Expense $5160.
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