Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 2.5% charge on sales for using its card. On May 26, Brinker had $4,800 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?
A. Debit Accounts Receivable $4,800; credit Sales $4,800.
B. Debit Cash $4,800; credit Sales $4,800.
C. Debit Cash $4,680; debit Credit Card Expense $120; credit Sales $4,800.
D. Debit Cash $4,920; credit Credit Card Expense $120; credit Sales $4,800.
E. Debit Accounts Receivable $4,680; debit Credit Card Expense $120; credit Sales $4,800.
Answer: C
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