Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 points Lisa's Fashion Boutique operates in a state with 8 percent sales tax on all sales. DATE TRANSACTIONS 20x1 Feb. 2 Sold merchandise

image text in transcribed

4 points Lisa's Fashion Boutique operates in a state with 8 percent sales tax on all sales. DATE TRANSACTIONS 20x1 Feb. 2 Sold merchandise totaling $3,700 to customers using bank credit cards. Record the 14 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $3,100 to customers using American Express. 20 Received amount due from American Express, less their 15 percent discount, for sales made by customers using American Express on February 15. Required: Record the above transactions of Lisa's Fashion Boutique in a general journal (Round your intermediate calculations and final answers to 2 decimal places.) No Date Feb 2, 20x1 Cash Credit card expense Sales Sales tax payable Answer is not complete. General Journal Debit Credit 0000 3.182.00 O 55044 O 3.700.00 3.182.00 O Return to question

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

14th edition

130565353X, 978-1305887510, 1305887514, 978-1305653535

More Books

Students also viewed these Accounting questions