Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need solved OBJ.2 EX 5-8 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: a. Sold merchandise for cash,

image text in transcribedneed solved

OBJ.2 EX 5-8 Sales-related transactions, including the use of credit cards Journalize the entries for the following transactions: a. Sold merchandise for cash, $30,000. The cost of the merchandise sold was $18,000. b. Sold merchandise on account, $258,000. The cost of the merchandise sold was $154,800. c. Sold merchandise to customers who used MasterCard and VISA, $160,000. The cost of the merchandise sold was $96,000. merchandise sold was $43,200. a service fee paid for processing MasterCard, VISA, and American Express sales d. Sold merchandise to customers who used American Express, $72,000. The cost of the e. Received an invoice from National Clearing House Credit Co. for $8,800, representing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

10-9 How have social technologies changed e-commerce?

Answered: 1 week ago