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Question
simonic retailers accepted $75,000 of citibank visa credit card charges for merchandise sold on july 1. citibank charges 4% for its credit card use. the entry to record this transaction by simonic retailers will include a credit to sales of $75,000 and a debit(s) to:
a.cash $72,000 and service charge expense $3,000
b.accounts receivable $72,000 and service charge expense $3,000
c.cash $72,000 and interest expense $3,000
d.accounts receivable $75,000
Answer
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