Answer :
Final answer:
The correct answer is b) Debit 175 to Cash and credit 175 to Revenue. To record the transaction of accepting a Visa card payment with a 4% bank fee, Flounder should debit 175 to cash and credit 175 to revenue.
Explanation:
The correct answer is b) Debit 175 to Cash and credit 175 to Revenue. Flounder should make entry Debit 175 to Cash and credit 175 to Revenue. This entry reflects the transaction where the restaurant accepted a Visa card payment of $175 and incurred a 4% fee charged by the bank, resulting in a debit to cash and a credit to revenue.
