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hi in this demonstration we're going to work on exercise 9-1 [Music] on april 8th we have some credit card sales where we receive cash now we need to record the receipt of the cash with a debit we need to record the credit card expense and we need to record the sales there's the dollar amount involved and i've typed this off off camera just to save some time in the demo and what you'll need to calculate on this one is how did we come up with the 368 and that's how we did it we have to take the credit card sales less the four percent fee the net amount of the fee goes to someone else and we receive the cash now on this part of the transaction this is the part that most students forget to record which is we're with a perpetual system and we need to record the cost of sales on that and there's the debits and the credits for that transaction now let's look at the transaction on april 12th in this case we need to record credit card sales let's say 2.5 fee but we're not receiving the cash r...
