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Please help and answer the questions. I added question 5 for question 6. Question 1. Levine Company uses the perpetual inventory system. April 8 Sold

Please help and answer the questions. I added question 5 for question 6.

Question 1.

Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $9,700 (that had cost $7,168) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. April 12 Sold merchandise for $4,400 (that had cost $2,851) and accepted the customer's Continental Card. Continental charges a 2.5% fee.

Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.)

No Date General Journal Debit Credit
1 April 08 Cash
Credit card expense 388
Sales 9700
2 April 08 Cost of goods sold 7168
Merchandise inventory 7168
3 April 12 Cash
Credit card expense
Sales

4,400

4 April 12 Cost of goods sold 2,851
Merchandise inventory 2,851

Please help to fill in for April 08 Debit/Credit, April 12 Cash Debit/Credit and credit card expense Debit/Credit.

Question 5. part 1 of 2

Following are transactions of Danica Company.

December 13 Accepted a $22,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable.
December 31 Prepared an adjusting entry to record the accrued interest on the Lee note.

Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. (Do not round your intermediate calculations. Use 360 days a year.)

Interest Amounts

Total Through Maturity Interest Recognized December 31
Principal $22,000

$22,000

Rate % 4% 4%
Time 45/360 18/360
Total Interest $110 $44

General Journal

No Date General Journal Debit Credit
1 December 13 Notes Receivable M. Lee 22,000
22,000
2 December 31 Interest receivable 44
Interest revenue 44

Question 6. part 2 of 2

Following are transactions of Danica Company.

December 13 Accepted a $22,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable.
December 31 Prepared an adjusting entry to record the accrued interest on the Lee note.
January 27 Received Lee's payment for principal and interest on the note dated December 13.
March 3 Accepted a $16,000, 8%, 90-day note in granting a time extension on the past-due account receivable of Tomas Company.
March 17 Accepted a $15,000, 30-day, 8% note in granting H. Cheng a time extension on his past-due account receivable.
April 16 H. Cheng dishonored his note.
May 1 Wrote off the H. Cheng account against the Allowance for Doubtful Accounts.
June 1 Received the Tomas payment for principal and interest on the note dated March 3.

Complete the table to calculate the interest amounts and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.)

M Lee note

Total Through Maturity Amount Accrued at December 31 Interest Recognized January 27
Principal
Rate %
Time
Total Interest

Tomas Company Note

Total Through Maturity
Principal
Rate %
Time
Total Interest

H Cheng Note

Total Through Maturity
Principal
Rate %
Time
Total Interest

General Journal

No Date General Journal Debit Credit

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