On July 4, Cullumber's Restaurant accepts a Visa card for a $1,350 dinner bill. Visa charges a 2% service fee. Prepare the entry on Cullumber’s books related to the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.