Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $7,400 (that had cost $5,469) and accepted the customer's Suntrust Bank Card. Suntrust

image text in transcribed

Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $7,400 (that had cost $5,469) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee 12 Sold merchandise for $4,400 (that had cost $2,851) and accepted the customer's Continental Card. Continental charges a 2.58 fee Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 2 1 3 4 Sold merchandise for $7,400 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. General Journal Date Debit Credit Apr 08 Clear entry Record entry View general journal

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

More Books

Students also viewed these Accounting questions