Sales to customers who use bank credit cards such as MasterCard and Visa are usually recorded by a?

May 15th, 2010 by Michael Ramirez

a.debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales
b.debit to Cash and a credit to Sales
c.debit to Cash, credit to Credit Card Expense, and a credit to Sales
d.debit to Sales, debit to Credit Card Expense, and a credit to Cash

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This entry was posted on Saturday, May 15th, 2010 at 9:21 am and is filed under Credit cards. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

One Response to “Sales to customers who use bank credit cards such as MasterCard and Visa are usually recorded by a?”

  1. BD in NM Says:
    May 15th, 2010 at 6:42 pm

    It could be b or c depending on when you are recognizing your processing fees. If you can calculate the fees at time of transaction then c. If you waite till you get your month end statement from the credit card processing company then b. Only you know the level of detail the question requires.

 

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