Mackenzie company sold $640 of merchandise to a customer who used a regional bank credit card. regional bank deducts a 2.0% service charge for sales on its credit cards and credits mackenzie's account immediately when sales are made. the journal entry to record this sale transaction would be: a)debit cash of $640 and credit sales $640.b)debit cash of $640 and credit accounts receivable $640.c)debit accounts receivable $640 and credit sales $640.d)debit cash $627.20; debit credit card expense $12.80 and credit sales $640.e)debit cash $627.20 and credit sales $627.20.

The journal entry to record this sale transaction would be: D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640

Explanation:

Regional Bank deducts a 2.0% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made.

The amount of service charge for sales =  2.0% x $640 = $12.8

In MacKenzie Company, the journal entry to record this sale transaction would be:

Debit Cash $627.20

Debit Credit Card Expense $12.80

Credit Sales $640

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