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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $2,300 of merchandise on credit (that had cost $1,400) to
Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $2,300 of merchandise on credit (that had cost $1,400) to Natara Morris, terns n/15. June 5 Sold $25,000 of merchandise (that had cost $15,000) to customers who used their tisa cards. Zisa charges a 34 fee. June 6 Sold $18,000 of merchandise (that had cost $10,800) to customers who used their Access cards. Access charges a 28 foo. June 8 Sold $15,000 of merchandise (that had cost $2,900) to customers who used their Access cards. Access charges a 11 fee. June 13 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,800 balance in McKee's account was from a credit sale last year. June 18 Received Morris's check in full payment for the June 4 purchase. Required: Prepare journal entries to record the preceding transactions and events. Journal entry worksheet 1 2 3 4 5 6 7 8 6 Sold $2,300 of merchandise on credit to Natara Morris, terms n/15. Note: Enter debits before credits. Date June 04 10 General Journal Debit Credit View general journal Record entry Clear entry View transaction list Journal entry worksheet nts < 1 3 4 5 6 7 8 9 10 eBook Print Record cost of goods sold, $1,400. References Note: Enter debits before credits. Date June 04 General Journal Debit. Credit ^ Record entry Clear entry View general journal Journal entry worksheet oints < 1 2 eBook 4 5 6 7 8 9 10 10 Sold $25,000 of merchandise to customers who used their Zisa cards. Zisa charges a 3% fee. Print References Note: Enter debits before credits. Date June 05 General Journal Debit Credit ^ View general journal Record entry Clear entry Journal entry worksheet < 1 2 3 4 5 6 7 8 9 10 10 Record cost of goods sold, $15,000. Book Print prences Note: Enter debits before credits Date June 05 General Journal Debit Credit Record entry Clear entry View general journal Book Print erences Journal entry worksheet < 1 2 3 4 6 7 8 9 10 Sold $18,000 of merchandise to customers who used their Access cards. Access charges a 2% fee. Note: Enter debits before credits Date June 06 General Journal Debit Credit ^ View general journal Record entry Clear entry ok t ances Journal entry worksheet < 1 2 3 4 5 7 8 9 10 10 Record cost of goods sold, $10,800. Note: Enter debits before credits. Date June 06 General Journal Debit Credit View general journal Clear entry Record entry > Journal entry worksheet < 1 2 3 4 5 6 8 9 10 Sold $15,000 of merchandise to customers who used their Access cards. Access charges a 1% fee. Note: Enter debits before credits. Date June 08 General Journal Debit Credit View general journal Record entry Clear entry Ces Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Record cost of goods sold, $2,900. Note: Enter debits before credits. Date June 08 10 10 General Journal Debit Credit View general journal Record entry Clear entry -ok nt ences Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $1,800 balance in McKee's account was from a credit sale last year. 10 10 Note: Enter debits before credits. Date June 13 General Journal Debita Credit Record entry Clear entry View general journal 25 Worksheet < 1 2 3 4 5 6 7 8 9 10 Received Morris's check in full payment for the June 4 purchase. Note: Enter debits before credits. Date June 18 General Journal Debit Credit Clear entry View general journal Record entry
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