Knife and Fork operates as a restaurant. Its customers can pay by cash, debit or credit card. For each debit transaction, John pays $0.30. For credit cards, John pays 4% of the total credit card transactions. On October 25, 2022, John compiled the following summary for the work day. Transaction Type Total Number of Transactions Cash $2485 50 Debit Card $0 0 Credit Card $3600 81 Required Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the total debit/credit card expense for October 25. Total Debit/Credit Card Expense = 144 b) Record the journal entry for the day's sales ignoring cost of goods sold.

Knife and Fork operates as a restaurant. Its customers can pay by cash, debit or credit card. For each debit transaction, John pays $0.30. For credit cards, John pays 4% of the total credit card transactions. On October 25, 2022, John compiled the following summary for the work day. Transaction Type Total Number of Transactions Cash $2485 50 Debit Card $0 0 Credit Card $3600 81 Required Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Calculate the total debit/credit card expense for October 25. Total Debit/Credit Card Expense = 144 b) Record the journal entry for the day's sales ignoring cost of goods sold.

Name: Knife and Fork operates as a restaurant. Its customers can pay by cas
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Description: Knife and Fork operates as a restaurant. Its customers can pay by cash, debit or credit card. For each debittransaction, John pays $0.30. For credit cards, John pays 4% of the total credit card transactions. On October 25,2022, John compiled the fol

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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