Which of the following is not true regarding a credit card expense?
A)Credit card expense may be classified as a "discount" deducted from sales in the calculation of net sales.
B)Credit card expense may be classified as a selling expense.
C)Credit card expense may be classified as an administrative expense.
D)Credit card expense is not recorded by the seller.
E)Credit card expense is a fee the seller pays for services provided by the card company.

Question

Quizplus · Accepted Answer

Credit card expense is recorded by the seller as it is a fee that the seller pays for services provided by the card company.

Which of the Following Is Not True Regarding a Credit