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Consider the following transaction: On February 15, Darling Dolls sells 110 dolls vith a sales price of $15 per doll to Rosemary Cummings The cost
Consider the following transaction: On February 15, Darling Dolls sells 110 dolls vith a sales price of $15 per doll to Rosemary Cummings The cost to Darling Dolls is $5 per doll. Prepare a journal entry under the following condition: 1. Payment is made using a credit, in-house account. Assume Gentry charges a 3.5% fee for each sales transaction using its card. Dr. Accounts Receivable - Cummings 1,650; Cr. Sales Revenue 1,650 Dr. Accounts Receivable: Gentry; Cr. Sales Revenue 1.650 Dr. Accounts Receivable - Gentry 1.592.25; DR Credit Card expense 57.75; CR Sales Revenue 1,650 Dr. Accounts Receivable - Cummings 1,592.25; DR Credit Card expense 57.75; CR Sales Revenue 1,650
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