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 $0.30. For credit cards, they pay 1.0% of the total of credit card transactions. On June 13,2018, Ben compiled the following summary for the work day.
Transaction Type Total Number of Transactions
Cash $71131
Debit Card $4379120
Credit Card $280067
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 June 13.
Total Debt/Credit Card Expense = $Answer
b) Record the journal entry for the day's sales.
For transactions with more than one debit, enter the debit accounts in alphabetical order.
Date Account Title and Explanation Debit Credit
2018
Jun 13 Answer
Answer
Answer
Answer
Answer
Answer
To record day's sales

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

Investment Grade Energy Audit Making Smart Energy Choices

Authors: Shirley J. Hansen, James W. Brown

1st Edition

0824709284, 978-0824709280

More Books

Students also viewed these Accounting questions

Question

Explain the pages in white the expert taxes

Answered: 1 week ago