Our company sells products via Amazon, which levies a (selling) fee on each transaction. Amazon deducts their fee from the sales price of the product, in effect reducing income. I have an expense account ("Selling Fees-Amazon") established to capture these fees. Do I post these expenses via the General Journal Entry: debit expense and credit sales income? This approach reduces Sales Revenues while increasing Expenses on the Income Statement....which follows from the above posting. But somehow this does not seem correct. I would appreciate any assistance. Thank you.
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