Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $6,500 (that had cost $4,804) and accepted the customer's Suntrust Bank Card. Suntrust
Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $6,500 (that had cost $4,804) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $8,400 (that had cost $5,443) 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. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Sold merchandise for $6,500 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Date General Journal Debit Credit April 08 Journal entry worksheet 1 2 3 Record the cost of goods sold, $4,804. Note: Enter debits before credits. Date General Journal Debit Credit April 08 Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started