Hankco accepts all major bank credit cards including omni, Ask an Expert

Accounting

Hankco accepts all major bank credit cards, including Omni Bank's, which assesses a 4% charge on sales for using its card. On June 28, Hankco had $3,300 in Omni Card credit sales. What entry should Hankco make on June 28 to record the deposit?

Debit Cash $3,300; credit Sales $3,300.

Debit Cash $3,168; debit Credit Card Expense $132; credit Sales $3,300.

Debit Cash $3,432; credit Credit Card Expense $132; credit Sales $3,300.

Debit Accounts Receivable $3,300; credit Sales $3,300.

Debit Accounts Receivable $3,168; debit Credit Card Expense $132; credit Sales $3,300.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M939790

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