Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 5.0% charge on sales for using its card. On June 28, Jervis had $5,400 in NB Card credit sales. What entry should Jervis make on June 28 to record the deposit?Multiple ChoiceDebit Cash $5,670.00; credit Credit Card Expense $270.00; credit Sales $5,400Debit Cash $5,400; credit Sales $5,400Debit Cash $5,130.00; debit Credit Card Expense $270.00; credit Sales $5,400Debit Accounts Receivable $5,400; credit Sales $5,400Debit Accounts Receivable $5,130.00; debit Credit Card Expense $270.00; credit Sales $5,400

Jervis sells $4,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 2% factoring fee. What entry should Jervis make to record the transaction?Multiple ChoiceDebit Cash $3,920; debit Factoring Fee Expense $80; credit Accounts Receivable $4,000Debit Cash $3,920; credit Accounts Receivable $3,920Debit Accounts Receivable $4,000; credit Factoring Fee Expense $80; credit Cash $3,920Debit Accounts Receivable $3,920; debit Factoring Fee Expense $80; credit Cash $4,000.Debit Cash $4,000; credit Factoring Fee Expense $80; credit Accounts Receivable $4,000

Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 5% charge on sales for using its card. On May 26, Brinker had $6,800 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?Multiple ChoiceDebit Cash $6,460; debit Credit Card Expense $340; credit Sales $6,800.Debit Accounts Receivable $6,800; credit Sales $6,800.Debit Cash $7,140; credit Credit Card Expense $340; credit Sales $6,800.Debit Cash $6,800; credit Sales $6,800.Debit Accounts Receivable $6,460; debit Credit Card Expense $340; credit Sales $6,800.

Jello's Market purchased $1,000 of goods on account with terms of 2/10,n/30. They returned $200 of the goods due to defect the next day. If Jello pays for the purchase within the discount period and uses the perpetual inventory system, the required journal entry to record the payment would:Multiple choice question.debit Accounts Payable $800; credit Merchandise Inventory $16; and credit Cash $784debit Accounts Payable $800; credit Cash $780; and credit Merchandise Inventory $20debit Accounts Payable $1,000; credit Cash 980; and credit Purchase Discounts $20debit Accounts Payable $800 and credit Cash $800

On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. How will Jo's Market record the customer's payment on June 8?Multiple choice question.Debit Accounts Receivable $1,000; credit Merchandise Inventory $20; and credit Cash $980Credit Accounts Receivable $1,000; debit Cash $980; and credit Merchandise Inventory $20Debit Cash $1,000 and credit Accounts Receivable $1,000Debit Cash $980; debit Sales Discounts $20; and credit Accounts Receivable $1,000

On June 5, Jo's Market sold $1,000 of goods on credit with terms of 2/10,n/30. The required journal entry to record Jo's Market customer's payment on July 6 would be:Multiple choice question.debit Cash $1,000; credit Accounts Receivable $1,000debit Accounts Receivable $1,000; credit Sales Discounts $20; and credit Cash $980debit Accounts Receivable $1,000; credit Cash $1,000debit Cash $980; debit Sales Discounts $20; and credit Accounts Receivable $1,000