Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below are three independent situation. Prepare entries for debit and credit card sales a)On march 15, 40 customers used debit cards to purchase merchandise

Presented below are three independent situation. Prepare entries for debit and credit card sales

a)On march 15, 40 customers used debit cards to purchase merchandise for a total of $8,740 from Hockey Town. Hockey Town pays a $1.35 debit card fee for each transaction.

b) On June 21, Circle Creations Gallery sells a painting to Constance Furrow for $1,960. Constance uses her visa bank credit card to pay for the purchase. The bank charges Circle Creations a 4% for all credit card transactions. On July 17, Constance receives her Visa bill and pays for this purchase. Round to the nearest dollar.

c) On October 7, A. Ramos uses his store credit card to purchase merchandise for The Bay for $550. On November 10, Ramos recives hid credit card bill from The Bay and pays for this purchase.

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

Recommended Textbook for

Hospitals What They Are And How They Work

Authors: Don Griffin, Donald J Griffin

3rd Edition

076372758X, 9780763727581

More Books

Students also viewed these Accounting questions

Question

describe antecedents and consequences of quantitative job demands;

Answered: 1 week ago

Question

1. I try to create an image of the message

Answered: 1 week ago

Question

4. What is the goal of the others in the network?

Answered: 1 week ago