Levine Company uses the perpetual inventory system. Prepare journal entries to record the following credit card transactions
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Levine Company uses the perpetual inventory system. Prepare journal entries to record the following credit card transactions of Levine Company.
Apr. 8 Sold merchandise for $8,400 (that had cost $6,000) and accepted the customer’s Suntrust Bank Card. Suntrust charges a 4% fee.
12 Sold merchandise for $5,600 (that had cost $3,500) and accepted the customer’s Continental Card. Continental charges a 2.5% fee.
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Apr 8 Debit Inventory 6000 Credit Sales 8400 Debit Credit Ca...View the full answer
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Related Book For 
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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