Exercise 7-3 Sales on store credit card LO C1

Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mart assesses a per-month interest fee for any unpaid balance on its store credit card at each month-end.

Apr. 30 Z-Mart sold merchandise for $3,000 (that had cost $1,650) and accepted the customers Z-Mart store credit card.

May 31 Z-Mart recorded $5 of interest earned from its store credit card as of this month-end.

Prepare journal entries to record the above selected credit card transactions of Z-Mart.

Help Save &Exit Submi Check my work Exercise 7-3 Sales on store credit card LO C1 Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mart assesses a per-month interest fee for any unpaid balance on its store credit ard at each month-end Apr. 30 -Mart sold merchandise for S,000 that had cost $1,650) and accepted the customer's 1-Mart store credit card. oints May 31 z-Hart recorded $5 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above selected credit card transactions of Z-Mart Hint Print Journal entry worksheet Z-Mart sold merchandise for $3,000 and accepted the customer's Z-Mart store credit card. Apr 30 Prey 1 of 1 EENext Journal entry worksheet 3 2 Z-Mart sold merchandise for $3,000 and accepted the customer's Z-Mart store credit card. Note: Enter debits before credits. General Journal Debit Credit Date Apr 30 Clear entry Next Prey1 of 1 View transaction list Journal entry worksheet ed Record the cost of good sold $1,650 Note: Enter debits before credits. nt Date General Journal Debit Credit nces Apr 30 Clear entry Prev 1 of1Next View transaction list 6 Journal entry worksheet points Skipped Z-Mart recorded $5 of interest earned from its store credit card as of this month-end eBook Hint Note: Enter debits before credits. Print Date General Journal May 31 Clear entry Prey 10f 1 Next