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This sales transaction's journal note would be for $13.50.
Sales made via a credit card are referred to as credit card sales. When a purchase is made using a credit card, the business has the option of receiving payment right away or at a later time. Service fees are charged by the bank for its services.
Do sales made using credit cards count as sales?
When you operate on a cash basis, you only count sales as income once you've been paid. That covers payments made with credit cards as well as cash. Even a sale made on credit counts as income when using the accrual approach. Your income statement is impacted by this variation, but not your cash flow statement.
$300 in sales revenue Cash 286.50 Credit Card Expenses 13.50 Sales Revenue 300 Credit Card Expenses = $300 x 4.50% = $13.50
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