Prepare journal entries for the following transactions from Cars Plus. Oct. 18 Customer Angela Sosa purchased $132,980
Question:
Prepare journal entries for the following transactions from Cars Plus.
Transcribed Image Text:
Oct. 18 Customer Angela Sosa purchased $132,980 worth of car parts with her Standard credit card. The cost to Cars Plus for the sale is $86,250. Standard credit card charges Cars Plus a fee of 4% of the sale. Oct. 24 Standard remits payment to Cars Plus, less any fees.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Oct 18 Debit Accounts Receivable Angela Sosa 132980 ...View the full answer
Answered By
Hande Dereli
Enthusiastic tutor, skilled in ACT and SAT tutoring. Raised one student's score on the SATs from 1100 combined to 1400. Graduated with a 3.9 GPA from Davidson College and led a popular peer tutoring group for three years. Scored in the top 0.06% in the nation on the SATs. The real reason I'm the one to help you nail the test? Results. Clients invariably praise my ability to listen and communicate in a low-stress, fun way. I think it's that great interaction that lets me raise retest SAT scores an average of 300 points.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
Prepare journal entries for the following transactions that occurred during July: 201X July 1 Jodi Wills invested $90,000 cash and $11,000 of equipment into her new business. 3 Purchased building for...
-
Prepare journal entries for the following transactions that occurred during March: 201X Mar. 1 Jordan Doxbury invested $50,000 cash and $5,000 of equipment into her new business. 3 Purchased building...
-
Prepare journal entries for the following transactions that occurred during 2014: May 1 Purchased equipment on account; $500. 2 Paid for the equipment purchased on May 1. 3 Purchased supplies for...
-
Write a reflective paper about Disability Network West Michigan
-
Suppose the economy is initially in long-run equilibrium and experiences a favorable inflation shock. a. Explain how the AS curve is affected in the short run. b. Use your result for part a along...
-
Use a graphing utility to graph the equation. Use a standard setting. Approximate any intercepts. 1. y = 5 - x 2. y = 2/3 x -1 3. y = x2 - 4x +3 4. y = x2 + x -2
-
The Tukey method to compare four treatment means produced the following 95% confidence coefficient intervals. Identify which of the following pairwise comparisons are significantly different and...
-
A bank's balance sheet information is shown below (in $000). 1. What is the bank's risk-adjusted asset base under Basel III? 2. To be adequately capitalized, what are the bank's CET1, Tier I, and...
-
Materials $227,750 $195,870 Work in process 157,150 135,150 Finished goods 116,150 133,190 $409,950 437,280 Direct labor Materials purchased during January Factory overhead incurred during January:...
-
The propeller in Prob. 9.1 is replaced with a six-blade turbine 400 mm in diameter, and the fluid to be agitated is a pseudoplastic power law liquid having an apparent viscosity of 15 P when the...
-
Review the new revenue recognition guidance issued by the Financial Accounting Standards Board http://www.fasb.org/jsp/FASB/Page/ImageBridgePage&ci =1176169257359 and answer the following questions. ...
-
Which of the following is not a criterion to recognize revenue under GAAP? A. The earnings process must be completed. B. A product or service must be provided. C. Cash must be collected. D. GAAP...
-
Amazon.com, Inc. (AMZN) operates as an online retailer in North America and internationally. Both Amazon and third parties, via the Amazon.com Web site, sell products across various product...
-
The State of Confusion Legislature passes the following statute: "The State Health Commissioner, when in their opinion, there is sufficient covid - 1 9 vaccine that has been approved by the Federal...
-
Case 1 Baum Co. has two processing departments: Fabrication and Assembly. In the Fabrication Department, metal is cut and formed into various components, which are then transferred to Assembly. The...
-
Your earlier Personal Leadership Assessment, you looked at two areas of your leadership experience, those who led you and those you led. You will again address these two items in your Personal...
-
What is required in this situation: Content slides explaining the qualitative and quantitative steps necessary in conducting a sensitivity analysis. How can a project's risk be incorporated into a...
-
What is "marketing"? What is the difference between "marketing" and the "marketing process"?is it different in your home country vs. North america? Q2. What is the difference between "demand",...
-
Tell whether the expression is a polynomial. If it is, give its degree. If it is not, state why not. -
-
You have accepted the engagement of auditing the financial statements of the C. Reis Company, a small manufacturing firm that has been your auditee for several years. Because you were busy writing...
-
Using the techniques of Section 5.3, test the following two-sided hypotheses: a. For Equation 5.8, test the hypothesis that: H 0 : 2 = 160.0 H A : 2 160.0 at the 5-percent level of significance. b....
-
Suppose that youve been asked by the San Diego Padres baseball team to evaluate the economic impact of their new stadium by analyzing the teams attendance per game in the last year at their old...
-
Frederick Schut and Peter VanBergeijk16 published an article in which they attempted to see if the pharmaceutical industry practiced international price discrimination by estimating a model of the...
-
Eye Deal Optometry leased vision - testing equipment from Insight Machines on January 1 , 2 0 2 4 . Insight Machines manufactured the equipment at a cost of $ 2 0 0 , 0 0 0 and lists a cash selling...
-
help! ee all photos + Add to o e D C N X Edit & Create Share Table of Contents No sales to an individual customer accounted for more than 10% of revenue during any of the last three fiscal years. Net...
-
Business law A person may have the liability of a partner even though no partnership exists True False
Study smarter with the SolutionInn App