The journal entry to record a credit card sale using a nonbank credit card (e.g., Canadian Tire or Sears) includes a debit to the
A)Cash account.
B)Accounts Receivable account.
C)Debit Card Expense account.
D)Sales account.

Question

Quizplus · Accepted Answer

When a sale is made using a nonbank credit card, the company records a debit to Accounts Receivable because the payment will be received from the credit card company at a later date.

The Journal Entry to Record a Credit Card Sale Using