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Ch3-Accounting for Receivable Credit Cards

Quiz by ALI ABDULHUSAIN HASAN ALI ISA

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4 questions
Show answers
  • Q1
    The sales normal balance is:
    Debit
    Credit
    30s
  • Q2
    The credit card expense had to be in credit in the general journal
    False
    True
    30s
  • Q3
    A company sold goods for a customer for BD 1,000. The customer use a Diner club card with 3% interest. The journal entry will be:
    Dr. Cash 1,000 & Credit Card Expense 30; Cr. Sales 1,030
    Dr. Cash 970 & Credit Card Expense 30; Cr. Sales 1,000
    Dr. Cash 1000; Cr. Credit Card Expense 30 & Sales 970
    Dr. Account Receivable 970 & Credit Card Expense 30; Cr. Sales 1,000
    60s
  • Q4
    The sales from the use of national credit card (Visa & Master Card) sales as
    Debit Sales
    On Account Sales
    Cash sales
    Credit Sales
    30s

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