Consider these transactions: (a) Espinosa Restaurant accepted a 3 answers below »

Consider these transactions:
(a) Espinosa Restaurant accepted a Visa card in payment of a $100 lunch bill. The bank charges a 3% fee. What entry should Espinosa make?
(b) Guthrie Company sold its accounts receivable of $65,000. What entry should Guthrie make, given a service charge of 3% on the amount of receivables sold?

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