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can you help me solve this, thanks Sales-related transactions, Including the use of credit cards ournalize the entries for the following transactions a. Sold merchandise
can you help me solve this, thanks
Sales-related transactions, Including the use of credit cards ournalize the entries for the following transactions a. Sold merchandise for cash, $116,300. The cost of the merchandise sold was $72,00o b. Sold merchandise on account, $755,000. The cost of the merchandise sold was $400,000. c. Sold merchandise to customers who used MasterCard and VISA, $1,950,000. The cost of the merchandise sold was $1,250,000 Continued a sold merchandise to customers who used American Espress, $330,000. The cost of the merchandise sold was $230,000. e Paid $81,500 to National Clearing House Credit Co. for service fees for processing VISA, and American Express sales OBJ.2 Ex 6-17 Sales tax transactions Journalize the entries to record the following selected transactions a. Sold $62,800 of merchandise on account, subject to a sales tax of 5% The cost of the merchandise sold was $37,500 b. Paid $39,650 to the state sales tax department for taxes collected -Ex 6-23 Income statement for merchandiser following expenses were incurred by a merchandising business during the year. which expense section of the income statement should each be reported: (a) (b) administrative, or (c) other? 1. Advertising expense 2. Depreciation expense on store equipment 3. Insurance expense on office equipment 4. Interest expense on notes payable 5. Rent expense on office building 6. Salaries of office personnel 7. Salary of sales manager 8. Sales supplies used EX 6-25 step income statement 081.4 31, 2019, the balances of the accounts appearing in the ledger of Racine rch Funishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building $ 300,000 216,000 1000,000 70,000 Merchandise Inventory Notes Payable Office Supplies Salaries Payable $ 392,000 100,000 8,000 3.200 2,564000 286,000 36,000 Administrative Expenses Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing 4,000 634,800 70,000 Selling Expenses Store SuppliesStep by Step Solution
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