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Mary Co. completed the following transactions and uses a perpetual inventory system. June 4 Sold $500 of merchandise on credit (that had cost $200) to
Mary Co. completed the following transactions and uses a perpetual inventory system.
June | 4 | Sold $500 of merchandise on credit (that had cost $200) to Natara Morris, terms n/15. | ||
5 | Sold $8,000 of merchandise (that had cost $3,200) to customers who used their Zisa cards. Zisa charges a 4.0% fee. | |||
6 | Sold $5,624 of merchandise (that had cost $2,250) to customers who used their Access cards. Access charges a 3.0% fee. | |||
8 | Sold $4,640 of merchandise (that had cost $1,856) to customers who used their Access cards. Access charges a 3.0% fee. | |||
13 | Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $588 balance in McKees account was from a credit sale last year. | |||
18 | Received Morriss check in full payment for the June 4 purchase. |
Required: Prepare journal entries to record the preceding transactions and events. (Do not round intermediate calculations.)
Date | General Journal | Debit | Credit |
June 04 | |||
June 04 | |||
June 05 | |||
June 05 | |||
June 06 | |||
June 06 |
June 08 | |||
June 08 | |||
June 13 | |||
June 18 |
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