Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on its credit cards. Kenai electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record the collection from the credit card company would be: a. Debit Accounts Receivable-National $582; debit Credit Card Expense $18 and credit Sales $600.
b. Debit Cash $582 and credit Sales $582.
c. Debit Cash of $618 and credit Accounts Receivable-National $618.
d. Debit Cash of $618; credit Credit Card Expense $18 and credit Sales $600.
e. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.