[needystudent25]

Oct. 31 recorded debit and credit card sales for the period 21,000
nov. 3 card processor drafted company's checking account for processing fee of $410


I suppose that the answer to this would be

Oct-31	cash	21,000
	sales		21,000
	to record sales

Nov-1

Credit card expense 410
Cash 410
To record credit card fee


Am I right?

[paraclete]

Gerarally speaking it seems OK

[K2Mookey]

NO! Credit Card Sales are posted to Accounts Receivable until the money is received into your bank account.

The processing fee entry is correct.