Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had $19,000 of credit and debit card sales on September 30, 2017 8. Suppose Peter's processor charges a 2% foe and deposits sales net of the foo, Joumalize the salo transaction for the restaurant 10. Suppose Peter's processor charges a 2% foe and deposits sales using the gross method. Joumalize the sale transaction for the restaurant. 9. Suppose Pelor's processor charges a 2% fee and deposits salos net of the fee. Journalize the sale transaction for the restaurant (Record debits first, then, credits. Select the expl Date Accounts and Explanation Debit Credit Sept. 30 Credit Card Expense Sales Revenue Cash Recorded credit card sales, net of foe. 10. Suppose Peter's processor charges a 2% for and deposits sales using the gross method. Joumalize the sale transaction for the restaurant. Date Accounts and Explanation Debit Credit Sept. 30 Cash Sales Revenue Each of the following situations has an internal control weakness. (Click the icon to view the situations.) (Click the icon to view the possible problems.) Read the requirements keq. 1 Missing Internal Control Characteristic Electronic devices a Req. 2 Req. 3 Possible Problem Solution Assign programmers to product development only Assign company accountants to redesign the accounting system. (1) Keep accounting and cash-handling duties separate, (2) Use pre-numbered documents (3) (4) Purchase fidelity bonds for all cashiers. (5) Deposit to a bank account daily to utilize bank controls over cash. (6) Assign one employee to manage office in owner's absence. b. Competent, reliable, ethical personnel Audits C. d. Documents e. Other controls f. Assignment of responsibilities More Info Req, 1 Missing Internal ntrol Characteristic Reg. 2 Possible Problem ole, ethio personnel a Upside Down Applications develops custom programs to customer's specifications. Recently, development of a new program stopped while the programmers redesigned Upside-Down's accounting system. Upside-Down's accountants could have performed this task. b. Norma Rottier has been your trusted employee for 24 years. She performs all cash-handling and accounting duties. Norma just purchased a new luxury car and a new home in an expensive suburb. As owner of the company, you wonder how she can afford these luxuries because you pay her only $30,000 a year and she has no source of outside income. c. brzie Hardwoods, a private company, falsified sales and inventory figures in order to get an important loan. The loan went through, but lazie later went bankrupt and could not repay the bank d. The office supply company where Pet Grooming Goods purchases sales reonipts recently notified Pet Grooming Goods that its documents were not prenumbered. Howard Mustro, the owner, replied that he never uses receipt numbers. .. Discount stores such as Cusco make most of their sales in cash, with the remainder in credit card sales. To reduce expenses, one store manager ceases purchasing fidelity bonds on the cashiers. f. Comelius's Comdogs keeps all cash receipts in an empty box for a week because the owner likes to go to the bank on Tuesdays when Joannis working sponsibilities Print Done X - Reference em. (1.) Loss of revenue due to low-quality work. (2.) Lost data; unhappy customers; failure to collect receivables. (3.) Lost sales due to delay of product development. (4.) Theft of cash. (5.) Theft of cash and inefficiency. (6.) Unreliable financial statements and lost credibility. ash. Print Done