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Directions: Prepare Journal entries based on the following information: a). Sold $45,000 Merchandise on bank card, same day funding net of fee 1.5% assed by
Directions: Prepare Journal entries based on the following information: | |||||||
a). Sold $45,000 Merchandise on "bank card", same day funding | |||||||
net of fee 1.5% assed by bank | |||||||
Date | Account | Debit | Credit | ||||
June 15th | |||||||
b) Sold $9,000 merchandise on "nonbank card" and | |||||||
recorded a 6% fee | |||||||
Date | Account | Debit | Credit | ||||
15-Dec | |||||||
c) Collected amount due of $8,460 from credit card company | |||||||
Date | Account | Debit | Credit | ||||
31-Dec | |||||||
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