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2024 Apr. 1 Recorded North American Express credit card sales of $115,000, net of processor fee of 3%. Ignore Cost of Goods Sold. Apr. 15
2024 Apr. 1 Recorded North American Express credit card sales of $115,000, net of processor fee of 3%. Ignore Cost of Goods Sold. Apr. 15 Recorded Explorer credit card sales of \$98,000. Processor charges a 2\% fee. Explorer charges the fee at the end of the month, therefore Quick uses the gross method for these credit card sales. Ignore Cost of Goods Sold. Apr. 30 Explorer collected the fees for the month of April. Assume the April 15 transaction is the only Explorer credit card sale. Journalize all entries required for Quick Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Apr. 4, 2024: Recorded credit card sales of $115,000, net of processor fee of 3%. Ignore Cost of Goods Sold. (Prepare a single compound journal entry.)
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