(Solution) - Presented below are two independent transactions a Ryan s Res -(2025 Original AI-Free Solution)

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Presented below are two independent transactions.
(a) Ryan?s Restaurant accepted a Visa card in payment of a $150 lunch bill. The bank charges a 4% fee. What entry should Ryan?s make?
(b) Shultz Company sold its accounts receivable of $60,000. What entry should Shultz make, given a service charge of 3% on the amount of receivables sold?