MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% 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 $295.50 and credit Sales $295.50.
B. Debit Cash $295.50; debit Credit Card Expense $4.50 and credit Sales $300.
C. Debit Cash of $300 and credit Accounts Receivable $300.
D. Debit Cash of $300 and credit Sales $300.
E. Debit Accounts Receivable $300 and credit Sales $300.
Answer: B
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