Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Account recievables #2 Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $7,600 (that had cost $5,616 ) and accepted the customer's
Account recievables #2
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $7,600 (that had cost $5,616 ) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4$ fee. Apri1 12 Sold merchandise for $9,600 (that had cost $6,221 ) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) Journal entry worksheet Sold merchandise for $7,600 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Sold merchandise for $9,600 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. Journal entry worksheet 1 Record the cost of goods sold, $6,221. Note: Enter debits before creditsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started