Continuing Cookie Creations 08 Your answer is partially correct, Trys One of Natale's friends, Curtis Lesperance, runs a coffee shop where he sels specialty coffees and prepares and sells muffins and cookies. He is eager to buy one of Natale's fine European mixers, which would enable him to make larger batches of mulies and cookies. However, Curtis cannot afford to pay for the miser for at least 30 days. He asks Natale if she would be willing to sell him the mixeron credit The following transactions occurred in one through August Alter much thought, Natale sells a moser to Ourtis on credit, terms 10 for $1,100 (cost of mixer 5600) 2 Natale meets with the bank manager and anges to get access to a credit card account. The terms of credit card transactions are 3% of the sales transactions and a monthly equipment rental charge of $75. 30 Natalie teaches 13 classes in one. Seven dasses were paid for in cash, $1,050, the other sechesses were ud for by credit card, 1960 30 Natalie receives and reconciles her bank statement. She makes sure that the bank has correctly processed the monthly 575 charge for the rental of the credit card equipment and the 3% fee on the credit card transactions 5 Curtis calls Natalie. He is unable to pay the amount outstanding for another month, so he signs a one-month, 6% not receivable July 15 Natale sells a mace to a friend of Curtis's. The friend pays $1,100 for the mover by Credit card (cost of meer $600). 30 Natalie teaches 15 classes in July, right classes are paid for in cash, $1,200; eight losses are paid for by credit card, 51,200 31 Natalie reconciles her bank statement and make sure the bank has recorded the correct alounts for the rental of the credit card equipment and the credit card sales. Curtis calls Natale. He cannot pay today but hopes to have a check for her at the end of the week. Natale acces Nyerest hug. 10 Curtis cals again and Natalie agrees to extend the note to two months. Curtis will repay the note on August 31, cluding interest for 2 months 31 Natale receives a check from Curtis in payment of his balance plus interest outstanding Prepare journal entries for the transactions that occurred in any, and August. The company is a perpetual inventory system (Credit account titles are automatically indented when 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 2 decimal places.. 25.20. Record journal entries in the order presented in the problem.) 31 S Kimmel, Accounting, 7e entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit June 17 Accounts Receivable 1,100 Sales Revenue 1,100 June 1 Cost of Goods Sold 600 Inventory 600 June 2 No Entry X June 30 Cash 1,050 x 900 Service Revenue 1,950 June 30 Cash 600 July 15 Cost of Goods Sold 600 Inventory July 30 Cash 1200 o search Inventory 600 July 30 Cash 1200 Notes Receivable 1200 x Service Revenue 2,400 Ix July 31 Service Charge Expense 75 Cash 75 July 31 Cash 2,231 DMOND IRON Accounts Payable 69 Accounts Receivable 2,300 July 31 X Interest Receivable 5.50 X Interest Revenue 5.50 July 31 Accounts Receivable 1,100 X Notes Receivable 1,100 Aug. 10 No Entry x to search O . YOUTTC Tuyuore X Accounts Receivable 2,300 X July 31 Interest Receivable 5.50 X Interest Revenue 5.50 July 31 Accounts Receivable 1,100 x Notes Receivable 1,100 Aug. 10 No Entry Aug. 31 Cash 1,111 > Interest Receivable 5.50 Interest Revenue 5.50 Accounts Receivable 1,100 Click if you would like to Show Work for this question: Open Show Work