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[Music] hello in this lecture were going to work some smaller test type problems problems that are of the size that could fit into multiple choice questions we have here company accepts all major bank credit cards many which assess a five percent charge on sales during the card using the card on may 26 company had 6200 credit sales what entry should company make on may 26 to record the deposit so were going to make the credit sales and were going to have to account for the charges on those sales so first thing i would think about is cash affected and were talking about this credit card kind of like being cash that were charging it on the credit card and were thinking about how much is going to be automatically basically deposited into our account through this credit card charging system so in this case were going to say yes cash is actually affected on this its not going to go into accounts receivable in this case were considering the point of sale basically kind of like cash