Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Leslie and Ben run a dry cleaners together, called Pawny Cleaners. Their customers can pay by cash, debit or credit card. For each debit transaction,

Leslie and Ben run a dry cleaners together, called Pawny Cleaners. Their customers can pay by cash, debit or credit card. For each debit transaction, they pay $0.10. For credit cards, they pay 1.0% of the total of credit card transactions. On September 19,2018, Ben compiled the following summary for the work day.
\table[[Transaction Type,Total,Number of Transactions],[Cash,$747,30],[Debit Card,$4391,118],[Credit Card,$2800,66]]
Required
Do not enter dollar signs or commas in the input boxes.
Round all answers to 2 decimal places.
a) Calculate the total debit/credit card expense for September 19.
Total Debt/Credit Card Expense =$
b) Record the journal entry for the day's sales.
For transactions with more than one debit, enter the debit accounts in alphabetical order.
\table[[Date,Account Title and Explanation,Debit,Credit],[2018],[Sep 19,Cash,,],[hat(),,],[hat(),,],[To record day's sales,,]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Accounting An Introduction

Authors: Eddie McLaney, Peter Atrill

3rd Edition

0273688227, 978-0273688228

More Books

Students also viewed these Accounting questions

Question

What products or services does your key public commonly use?

Answered: 1 week ago

Question

What position do you seek?

Answered: 1 week ago