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connected question please explain process Presented below are three independent situations. 1 2 On March 15, 40 customers used debit cards to purchase merchandise for
connected question please explain process
Presented below are three independent situations. 1 2 On March 15, 40 customers used debit cards to purchase merchandise for a total of $8,400 from Crane Town. Crane Town pays a $1.45 debit card fee for each transaction. On June 21. Blue Creations Gallery sells a painting to Constance Furrow for $1,900. Constance uses her Visa bank credit card to pay for the purchase. The bank charges Blue Creations a 4% fee for all credit card transactions. On July 17. Constance receives her Visa bill and pays for this purchase. On October 7. A. Ramos uses his store credit card to purchase merchandise from The Larkspur for $850. On November 10. Ramos receives his credit card bill from The Larkspur and pays for this purchase. 3. Prepare Crane Town's journal entries for the transactions in part (1). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to 0 decimal places, eg 5,275. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Mar. 15 Prepare Blue Creations' journal entries for the transactions in part (2). (Credit account titles are automaticalls indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 5,275. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles and Explanation Debit Credit June 21 Prepare The Larkspur's journal entries for the transactions in part (3). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit CreditStep by Step Solution
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