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need help journalizing these Instructions Chart of Accounts Journal Instructions Journalize the entries for the following transactions Refer to the chart of accounts for the
need help journalizing these
Instructions Chart of Accounts Journal Instructions Journalize the entries for the following transactions Refer to the chart of accounts for the exact wording of the account titles. CNO will automatically indent a credit entry when a credit amount is entered (Note the company uses a clearinghouse to take care of Mar. 1 Sold merchandise for cash, $34,200. The cost of the merchandise sold was $23,940. 10 Sold merchandise on account, $255,400. The cost of the merchandise sold was $178,780 Sold merchandise to customers who used MasterCard and VISA, $168,200. The cost of the merchandise sold was $117,740 Sold merchandise to customers who used American Express, $70,500. The cost of the merchandise sold was $49 350 31 Paid $8,930, to National Clearing House Credit Co for service fees for processing MasterCard, VISA, and American Express sales. Chart Of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Rent Revenue 125 Notes Receivable 130 Merchandise Inventory EXPENSES 131 Estimated Returns Inventory 140 Office Supplies 510 Cost of Merchandise Sold 521 Delivery Expense 522 Advertising Expense 141 Store Supplies 1 142 Prepaid Insurance 524 Depreciation Expense-Store Equipment 2 180 Land 525 Depreciation Expense-Office Equipment 3 526 Salaries Expense 531 Rent Expense 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 533 Insurance Expense 534 Store Supplies Expense 595 Office Supplies Expense 536 Credit Card Expense LIABILITIES 539 Miscellaneous Expense 710 Interest Expense 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customers Refunds Payable 220 Unearned Rent 221 Notes PayableStep by Step Solution
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