Target Allows Customers to Use MasterCard B) C) D) None of the Above

Multiple Choice

Target allows customers to use MasterCard.They report sales of $24,000 for the week.MasterCard charges Target a 3% fee.The journal entry for this transaction would be:

A) $$\begin{array} { | l | r | r | r | } \hline \text { Sales } & & 24,000 & \\\hline \text { Bankcard discount expense } & & 720 & \\\hline & \text { Cash } & & 24,720 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | r | } \hline \text { Cash } & & 24,000 & \\\hline \text { Bankcard discount expense } & & 720 & \\\hline & \text { Sales } & & 24,720 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | r | } \hline \text { Cash } & & 23,280 & \\\hline \text { Bankcard discount expense } & & 720 & \\\hline & \text { Sales } & & 24,000 \\\hline\end{array}$$
D) None of the above.