Multiple choice
1- ATM accepts a credit card payment for $4,000 for service
rendered. The credit card company changes a 5% fee for handling the
transaction. Based on this information , which of the following is
false
a) Accounts Receivable - Credit card company will be debited for
$3,800
b) Crdit Card Fee Expense will be debited for $200
c) Cash will be debited for $3,800
d) Service Revenue will be credited for $4,000.
2- An accounting practice that recognizes...