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exercise 9-2 and 9-3 please Exercise 9-2 Accounting for credit card sales Levine Company uses the perpetual inventory system. Prepare journal entries to record the
exercise 9-2 and 9-3 please
Exercise 9-2 Accounting for credit card sales Levine Company uses the perpetual inventory system. Prepare journal entries to record the following: credit card transactions of Levinc Company. Apr. 8 Sold merchandise for $8.400 (that had cost $6,000) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. 12 Sold merchandise for $5,600 (that had cost $3,500) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Exercise 9-3 Sales on store credit card Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month inter- est fee for any unpaid balance on its store credit card at each month-end. Apr. 30 Z-Mart sold merchandise for $1,000 (that had cost $650) and accepted the customer's Z-Mart store credit card. May 31 Z-Mart recorded $4 of interest earned from its store credit card as of this month-endStep by Step Solution
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