Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a) Blossom Company accepted a Visa card in payment of a $300 lunch bill. The bank charges a 3% fee. What entry should Blossom make?

(b) Kingbird, Inc. sold its accounts receivable of $67,100. What entry should Kingbird make, given a service charge of 3% on the amount of receivables sold?.

Account Titles and Explanation Debit Credit

(a) enter an account title to record transaction A enter a debit amount enter a credit amount

enter an account title to record transaction A enter a debit amount enter a credit amount

enter an account title to record transaction A enter a debit amount enter a credit amount


(b) enter an account title to record transaction B enter a debit amount

enter a credit amount enter an account title to record transaction B enter a debit amount

enter a credit amount enter an account title to record transaction B enter a debit amount