Question
13. Prepare the necessary journal entries for the following transactions. e. Putin Confectionery sold $980,000 of its accounts receivables to HSBC Factoring. The factor charges
13. Prepare the necessary journal entries for the following transactions.
e. Putin Confectionery sold $980,000 of its accounts receivables to HSBC Factoring. The factor charges a 5% fee.
f. Johnson Inc. made sales of $698,000 on Visa credit cards. The company also made sales of $789,000 on ABC credit cards. The credit card service charge is 4% for Visa and 5% for ABC.
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Core Concepts Of Information Technology Auditing
Authors: James E Hunton, Stephanie M Bryant, Nancy A Bagranoff
1st Edition
0471222933, 9780471222934
