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a. Sold merchandise for cash, $23,500. The cost of the merchandise sold was $14,100. (Record the sale first.) b. Sold merchandlse on account, $13,130. The
a. Sold merchandise for cash, $23,500. The cost of the merchandise sold was $14,100. (Record the sale first.) b. Sold merchandlse on account, $13,130. The cost of the merchandise sold was $7,880. (Record the sale first.) c. Sold merchandlse to customers who used MasterCard and VISA, $106,770. The cost of the merchandise sold was $64,060. (Record the sale first.) d. Sold merchandlse to customers who used American Express, $35,700. The cost of the merchandise sold was $21,420. (Record the sale first.) e. Paid $7,290 to National Clearing House Credit Co. for service fees for processing MastenCard, VISA, and American Express sales. Accounts Receivable Cash Cost of Merchandise Sold Credit Card Expense Merchandise is sold on account to a customer for $13,100, terms FOB shipping point, 1/10, n/30. The seller paid the freight of $370. Determine the following: a. Amount of the sale b. Amount debited to Accounts Recelvable c. Amount recelved within the discount perlod a. Sold merchandise for cash, $23,500. The cost of the merchandise sold was $14,100. (Record the sale first.) b. Sold merchandlse on account, $13,130. The cost of the merchandise sold was $7,880. (Record the sale first.) c. Sold merchandlse to customers who used MasterCard and VISA, $106,770. The cost of the merchandise sold was $64,060. (Record the sale first.) d. Sold merchandlse to customers who used American Express, $35,700. The cost of the merchandise sold was $21,420. (Record the sale first.) e. Paid $7,290 to National Clearing House Credit Co. for service fees for processing MastenCard, VISA, and American Express sales. Accounts Receivable Cash Cost of Merchandise Sold Credit Card Expense Merchandise is sold on account to a customer for $13,100, terms FOB shipping point, 1/10, n/30. The seller paid the freight of $370. Determine the following: a. Amount of the sale b. Amount debited to Accounts Recelvable c. Amount recelved within the discount perlod
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