When a company accepts a credit card payment for a sale,the amount of sales revenue to be recorded is reduced by the amount of the credit card company's fee.

Question

Quizplus · Accepted Answer

Revenue is recorded for the full amount of the sale,and the fee is recorded as a separate expense.Income increases by the amount of revenue and decreases by the amount of the credit card expense.Net income increases by the difference between the two amounts.

When a Company Accepts a Credit Card Payment for a Sale,the