Question
Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $650 of merchandise on credit (that had cost $400) to
Mayfair Company completed the following transactions and uses a perpetual inventory system.
June 4
Sold $650 of merchandise on credit (that had cost $400) to Natara Morris, terms n/15.
June 5
Sold $6,900 of merchandise (that had cost $4,200) to customers who used their Zisa cards. Zisa charges a 3% fee.
June 6
Sold $5,850 of merchandise (that had cost $3,800) to customers who used their Access cards. Access charges a 2% fee.
June 8
Sold $4,350 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2% fee.
June 13
Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $429 balance in McKees account was from a credit sale last year.
June 18
Received Morriss check in full payment for the June 4 purchase.
Required: Prepare journal entries to record the preceding transactions and events.
Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $650 of merchandise on oredit (that had cost $400 ) to Natara Morris, terms n/15. June 5 Sold $6,900 of merchandise (that had cost $4,200 ) to customers who used their zisa cards. 718a charges a 14 toen. June 6 Sold $5,850 of merehandise (that had cost $3,800 ) to customers who used their Accesn cards. Accesin charges a 21 fee. June 8 Sold $4,350 of merchandise (that had cost $2,900 ) to eustomers who used their Accesn cards. Access ehargea n 21 tee. June 13 Wrote oft the account of Abigail MoKee against the Allowance for Doubtful Accounts. The s429 balance in MoKee's account was from a eredit sale last year. June 18 Received Morris's check in fu11 payment for the June 4 purehase. Required: Prepare journal entries to record the preceding transactions and events. Journal entry worksheet Sold $650 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet Sold $6,900 of merchandise to customers who used their Zisa cards. Zisa charges a 3% fee. Note: Enter debits before credits. Journal entry worksheet (1) (2) Note: Enter debits before credits. Journal entry worksheet 1 2 10 Sold $5,850 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: Enter debits before credits. Journal entry worksheet 1 2 3 Note: Enter debits before credits. Journal entry worksheet 1 (2) Sold $4,350 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet 1 2 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $429 balance in McKee's account was from a credit sale last year. Note: Enter debits before credits. Journal entry worksheet Received Morris's check in full payment for the June 4 purchase. Note: Enter debits before credits
Mayfair Company completed the following transactions and uses a perpetual inventory system.
June 4 | Sold $650 of merchandise on credit (that had cost $400) to Natara Morris, terms n/15. |
June 5 | Sold $6,900 of merchandise (that had cost $4,200) to customers who used their Zisa cards. Zisa charges a 3% fee. |
June 6 | Sold $5,850 of merchandise (that had cost $3,800) to customers who used their Access cards. Access charges a 2% fee. |
June 8 | Sold $4,350 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 2% fee. |
June 13 | Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $429 balance in McKees account was from a credit sale last year. |
June 18 | Received Morriss check in full payment for the June 4 purchase. |
Required: Prepare journal entries to record the preceding transactions and events.
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