Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. SK Apr. Sold merchandise for $5,100 (that had cont

image text in transcribed
Exercise 7-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. SK Apr. Sold merchandise for $5,100 (that had cont $3,769) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4 fee. 12 Sold merchandise for $3,800 (that had cost $2,462) and accepted the customer's continental Card. Continental charges a 2.5 fee. Prepare journal entries to record the above credit card transactions of Levine Company, (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 Sold merchandise for $5,100 and accepted the customer's Suntrust Bank Card Suntrust charges a 4 fee. Note: Enter debits before credits Date General Jouma Debit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions