Acme Company Has an Agreement with a Major Credit Card

Multiple Choice

Acme Company has an agreement with a major credit card company which 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