PART I - ANALYZE THE FOLLOWING TRANSACTIONS IN A "JOURNAL" FOR THE COMPANY "CRAZY EDDIE" FOR THE MONTH OF DECEMBER OF THE CURRENT YEAR. 1 SELLS $9,500 IN MERCHANDISE TO WALMART, TERMS 1/10, N/30.

1 SELL $2,000 WITH VISA CARD. THE SERVICE CHARGE IS 2.5%.

2 SELLS CREDIT $25,000 IN MERCHANDISE TO K-MART CO.

3 WALMART RETURNS $500 OF DEFECTIVE MERCHANDISE TO CRAZY EDDIE.

3 SELL $12,000 IN MERCHANDISE TO SAMS IN CASH.

5 CHARGES WALMART SALE ON DAY 1.

7 SELLS $1,500 WITH VISA CARD, 3.5% SERVICE CHARGE.

8 SELLS $700 WITH AMERICAN EXPRESS, SERVICE CHARGE IS 5%.

9 SELLS TO CREDIT $10,000 MERCHANDISE TO THE RIVERA CUSTOMER.

10 SELL $25,000 WITH MASTERCARD. THE SERVICE CHARGE IS 3.5%.

11 CHARGES THE SALE OF K-MART CO.

13 AMERICAN EXPRESS PAYS CRAZY EDDIE FOR THE SALE OF THE 8TH.

18 MANAGEMENT DETERMINES THAT RIVERA WILL NOT PAY ITS BALANCE SHEET AND DE-WRITE OFF.

31 RIVERA DECIDES TO PAY $1,000 OF WHAT IS OWED. 31 MANAGEMENT DETERMINES THAT 4% OF $100,000 OF TOTAL SALES WILL NOT BE CHARGED.