A company accepts VISA credit cards and incurs a 4% processing fee for each sale made to a customer using a credit card.
Which of the following journal entries would record a $1,000 sale to a customer who uses their VISA card?
Cash 960 (debit)
Credit Card Expense 40 (debit)
Sales Revenue 1,000 (credit)
I AM UNSURE
Cash 1,040 (debit)
Credit Card Fee 40 (credit)
Sales Revenue 1,000 (credit)
I AM UNSURE
Accounts Receivable 960 (debit)
Credit card Expense 40 (debit)
Sales Revenue 1,000 (credit)
Cash 960 (debit)
Sales Revenue 960 (debit)
I DON'T KNOW YET