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QUESTION
Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and...
Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and were subject to a 5.5% credit card company collection fee. Alpha company collected payment from Worldwide Express on July 21. What amounts should be recorded for the following accounts for the jul 21 collection?
