Multiple Choice
Acme Company has an agreement with a major credit card company that calls for cash to be received immediately upon deposit of Acme customers' credit card sales receipts.The credit card company receives 3.5% of card sales as its fee.If Acme has $2,000 in credit card sales,which of the following statements are true?
A) Acme debits Cash $2,000.
B) Acme debits Cash $1,930.
C) Acme debits Accounts Receivable - Credit Card Co $2,000.
D) Acme debits Accounts Receivable - Credit Card Co $1,930.
E) Acme credits Sales $1,930.
Correct Answer:
Verified
Correct Answer:
Verified
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