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Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $8,408 (that had cost $6,000) and accepted the customer's Suntrust Bank Card. Suntrust
Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $8,408 (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. Prepare journal entries to record the above credit card transactions of Levine Company. 1 2 3 Sold merchandise for $8,400 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Debit General Journal Date Credit Apr 08 2 4 Record the cost of goods sold, $6,000. Note: Enter debits before credits. Debit General Journal Date Credit Apr 08 Sold merchandise for $5,600 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. Debit General Journal Date Credit Apr 12 Record the cost of goods sold, $3,500. Note: Enter debits before credits. Debit Credit Date General Journal Apr 12
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