Answered step by step
Verified Expert Solution
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,
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, $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, representingStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started