Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and were
Alpha Company sells goods to customers who use Worldwide Express nonbank credit cards. Credit card sales on July 15, 2016 amounted to $25,000 and were subject to a 4.5% credit card company collection fee. Alpha Company collected payment from Worldwide Express on July 21. Use this information to prepare the General Journal entries (without explanation) for the July 15 sales & the July 21 collections. If no entry is required then write "No Entry Required."
General Journal:
Date | Accounts | Debit | Credit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Step 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