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Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $5,500 (that had cost $4,065) and accepted the customer's Suntrust Bank Card. Suntrust
Levine Company uses the perpetual inventory system.
April 8 | Sold merchandise for $5,500 (that had cost $4,065) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. |
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April 12 | Sold merchandise for $3,000 (that had cost $1,944) 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.
Note: Round your answers to the nearest whole dollar amount.
Journal entry worksheet Sold merchandise for $5,500 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Journal entry worksheet Record the cost of goods sold, $4,065. Note: Enter debits before credits. Journal entry worksheet Sold merchandise for $3,000 and accepted the customer's Continental Card. Continental charges a 2.5% fee. Note: Enter debits before credits. Journal entry worksheet Record the cost of goods sold, \$1,944. Note: Enter debits before credits
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